Rick Pepperman Quoted in The Am Law Daily Article on Dismissal of BP Derivative Suit

September 16, 2011

On September 16, Mr. Pepperman was quoted in The Am Law Daily article titled, “S&C and Andrews Kurth Sink BP Derivative Suit Over Horizon Disaster,” which discussed the dismissal of a consolidated shareholder derivative litigation brought against S&C client BP in connection with the 2010 Deepwater Horizon explosion and the ensuing Gulf of Mexico oil spill. The decision, issued by Houston federal judge Keith Ellison, granted BP’s motion to dismiss the complaint – which accused BP and several current and former directors of disregarding safety issues – on the ground of forum non conveniens. As Am Law noted, in agreement with several of BP’s main arguments, the court held that “keeping the case in Houston would be a ‘substantial burden’” to the court and to BP, “since the vast majority of relevant documents, defendants, and potential witnesses would be in England”; and since the Companies Act of 2006 – the applicable English law that would be the focus of such a suit brought in England – “is still being scrutinized by English courts, an American court shouldn’t weigh in before English courts have their say.” Mr. Pepperman, as counsel to BP, told Am Law “that he and his client were pleased with the judge’s ruling.”