BP, Chevron, Others Settle N.Y. MTBE Gasoline Additive Cases

"BP Plc, Chevron Corp. and Royal Dutch Shell Plc units were among dozens of energy companies that agreed to pay $42 million to settle claims brought by communities on New York’s Long Island alleging contamination of water with a gasoline additive.

The companies and the plaintiffs, including water districts and the towns of Southampton, East Hampton and Huntington, filed notice today of their motion to dismiss the lawsuits. The suits, part of larger litigation over methyl tertiary butyl ether, were brought by 23 Long Island districts, said Marc Bern, a lawyer for the plaintiffs, who said the pact’s financial terms were confidential. The total amount was $42 million, according to a person familiar with the settlement."

Thom Weidlich reports for Bloomberg August 4, 2010.

Source: Bloomberg, 08/05/2010