Shareholder sues BP, says History of Safety Violations Was 'Red Flag,'

NEW ORLEANS (CN) -

The explosion of BP's Deepwater Horizon oil rig was preceded by a string of near-cataclysmic incidents in BP operations that should have been "red flags" announcing the likelihood of a major explosion, a shareholder says. Yet BP's Board of Directors ignored crucial safety issues, cut corners, violated U.S. law and spent millions lobbying Congress to fight regulations for the sake of making a buck, according to the federal derivative complaint.
Katherine Firpo says the company was violating U.S. when the Deepwater Horizon exploded while drilling at 22,000 feet - 2,000 feet deeper than allowed by its federal permit. Firpo says that alone shows that the BP Board of Directors cannot be trusted and has no regard for safety or regulations.

http://www.courthousenews.com/2010/05/10/27128.htm