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Judge tosses Gulf spill suit against Transocean
NEW ORLEANS (AP) — A federal judge in New York on Tuesday dismissed a lawsuit from investors who alleged top executives of Transocean Ltd. misled shareholders about safety problems in the months leading up to a catastrophic oil well blowout in the Gulf of Mexico.
On Tuesday, U.S. District Judge Naomi Reice Buchwald threw out a class-action suit against Transocean. The Swiss company leased the Deepwater Horizon rig to BP PLC to drill a deep-sea well off the Louisiana coast. The well blew out in April 2010, killing 11 workers, destroying the rig and causing the nation's worst offshore oil disaster.
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