Ruling Won’t Deter NY State Fund’s Legal Action Against BP

July 2, 2010  |  

(Pensions & Investments) — New York State Common Retirement Fund, Albany, will continue its effort to sue BP despite a U.S. Supreme Court ruling that has created a jurisdictional hurdle, confirmed Robert Whalen, a spokesman for New York State Comptroller Thomas P. DiNapoli, the sole trustee of the $132.6 billion fund.

“Last week’s ruling by the Supreme Court requires additional evaluation, but we are going forward,” Mr. Whalen said in an interview Thursday. “If necessary, we’ll seek a remedy through another venue.”

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