UK - The Lothian Pension Fund has become one of the lead plaintiffs in a class action lawsuit accusing BP of destroying shareholder value.
They claimed this was due to cost cutting and led to the company's share value falling by £4.
In March, the fund joined a class action suit against telecommunications giant, Ericsson, claiming it had made false statements about its financial health (see Globalpensions.com; 10 March 2008).
A spokesman for the fund said there had been no further movement in this case.
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