In a court filing on Monday, the Justice Department said they will probably sue BP (NYSE:BP) for damages related to the Gulf of Mexico oil spill from the Deepwater Horizon.
The filing was with the U.S. District Court in New Orleans, Louisiana.
If they proceed, claims against BP would be based on the Clean Water Act and the Oil Pollution Act,
The Oil Pollution Act was put in place after the oil spill from the Exxon-Valdez (NYSE:XOM).
It wasn't clear if they're going to wait to see if BP will be tagged with a "gross negligence" label, which would significantly increase the potential penalties.
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