Stichting Pensioenfonds Metaal En Techniek et al v. BP PLC et al

Filing 90

ORDER granting in part, denying in part 48 , 55 Defendants' Amended Second Tranche Consolidated Motion to Dismiss.(Signed by Judge Keith P Ellison) Parties notified.(glyons, 4)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION
IN RE: BP p.l.c.
SECURITIES LITIGATION

STICHTING PENSIOENFONDS
METAAL EN TECHNIEK et al.
v.
BP P.L.C. et al.

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MDL No. 10-md-2185

Civ. Act. No. 4:13-cv-0069

HON. KEITH P. ELLISON

ORDER
Pending before the Court is Defendants’ Amended Second Tranche Consolidated Motion
to Dismiss. (Doc. Nos. 48, 55.)1 Having reviewed the original motion (Doc. No. 22), the
amended motion, Plaintiffs’ response (Doc. Nos. 66, 72), Defendants’ reply (Doc. Nos. 78, 80),
all papers in support thereof, and having heard oral argument, the Court finds that Defendants’
Motion (Doc. Nos. 48, 55) must be GRANTED IN PART and DENIED IN PART. Pursuant to
the reasoning articulated in the Memoranda and Orders issued this day in three related cases—
Avalon Holdings, Inc. et al. v. B.P. p.l.c. et al. [12-cv-3715] (the “Avalon Holdings Opinion”);
Mondrian Global Equity Fund, L.P. et al. v. BP p.l.c. et al. [12-cv-3621] (the “Mondrian
Opinion”); and New York City Employees’ Retirement System et al. v. BP p.l.c. et al. [13-cv1393] (the “New York Opinion”)—the Court GRANTS the Amended Motion to Dismiss as to
the following claims:


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All negligent misstatement claims.

Unless otherwise indicated, all docket references are to 13-cv-0069.



All claims based on Andrew Inglis’s statements made in the 2008 Strategy
Presentation on February 27, 2008. (Doc. Nos. 18, 19 (the “Stichting
Compl.”), at ¶ 352(b).)



All claims based on statements made in the May 20, 2010 press release
and Form 6-K. (Id. ¶ 434.)



All claims based on statements made in the May 24, 2010 press release
and Form 6-K. (Id. ¶ 441.)



All Section 20(a) claims asserted against Mr. Inglis and David Rainey.

There being no remaining claims against Mr. Rainey, he is DISMISSED.
In all other respects, the Motion is DENIED.
IT IS SO ORDERED.
SIGNED at Houston, Texas, on this the thirtieth day of September, 2014.

KEITH P. ELLISON
UNITED STATES DISTRICT JUDGE

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