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New York City sues BP over pension fund losses

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NEW YORK (AP) — New York City is suing BP over the drop in its stock price after the 2010 Gulf of Mexico oil spill, saying its pension funds lost $39 million. The lawsuit in federal court in New York claims BP failed to tell shareholders about the risks of its offshore drilling, and that after the spill it tried to minimize the cost to shareholders. An earlier court ruling in a different case...

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