BP to Pay Massive Penalties in Deepwater Horizon Disaster
Oil giant BP is being hit with massive penalties from the 2010 Deepwater Horizon disaster. The company will pay out four-billion-dollars and plead guilty to felony misconduct charges. Eleven workers died in the disaster which also saw nearly five-million barrels of oil leaked into the Gulf of Mexico over the course of nearly three months.
The penalties are the largest criminal penalty in U.S. history. The previous record was held by Pfizer for marketing fraud accusations in 2009. The money will be paid out over over six years. BP will also pay more than 500-million-dollars to U.S. regulators to settle securities claims. (AP)