Settlement compensates investors who claimed BP publicly underplayed amount of oil flowing from Macondo well into Gulf of Mexico

BP has agreed to pay $175m (£120m) to settle claims that it deceived shareholders by underplaying the severity of the 2010 Gulf of Mexico oil spill.

The settlement, to be paid this year or next, ends a legal battle that began when a Houston judge ruled investors who bought shares shortly after the explosion at its Deepwater Horizon rig could sue BP.

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Source: Guardian Environment