Welcome to the BP Fair Fund Website
On November 15, 2012, the U.S. Securities and Exchange Commission (the “SEC” or “Commission”) commenced an action against BP p.l.c. (“BP”) alleging that BP violated federal securities laws when it made material misrepresentations and omitted material information known to BP regarding the rate at which oil was flowing into the Gulf of Mexico as a result of the explosion on the offshore oil rig Deepwater Horizon.
Ultimately, the SEC and BP settled the charges and entered into a Final Judgment. The Final Judgment ordered BP to pay a civil money penalty in the amount of $525,000,000 and authorized the Commission to distribute the civil money penalty to harmed investors pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended.
By Order dated February 14, 2014, the Court created a Fair Fund (“BP Fair Fund”) in the amount of $525,000,000 for distribution to injured investors, and appointed RCB Fund Services, LLC as the Distribution Agent. In February, 2016, the Court approved a Plan of Distribution that sets forth eligibility criteria and other rules governing the administration and distribution of the BP Fair Fund.
If you purchased BP American Depositary Shares on a U.S. exchange during the period from April 26, 2010 through May 26, 2010, you may be eligible for compensation from the BP Fair Fund.
CASE STATUS UPDATE – November, 2017
We have completed the review of nearly 100,000 claims submitted for recovery from the BP Fair Fund. Our staff has reviewed each claim to verify each investor’s eligibility to recover under the terms of the Distribution Plan and to assess the adequacy of the documentation of the claimed losses. In the coming weeks we will begin issuing Determination Notices to each claimant. These Notices will provide each investor with detail regarding the status (eligible, partially or wholly deficient, or ineligible) and the approved amount of their claim. The Notice will detail any deficiency in the claim and provide instructions regarding what is required to remedy the deficiency. Claimants will have 45 days to respond to the Notice.
Upon receipt and review of any responses to the Determination Notices, we will be closer to determining the final amount of all claims which is required before we can determine the actual payout percentage on eligible losses. We appreciate your patience as we move through this process.
Ready to File Your Claim? Begin Today.
Have all the information you need to complete your claim form? You can submit your claim form and attach the documents now.