Federal Judge Grants Preliminary Approval in BP Settlement

A federal judge has granted preliminary approval to the multibillion-dollar agreement between BP and certain private plaintiffs damaged by the 2010 Gulf oil spill, according to the Times-Picayune.

U.S. District Judge Carl Barbier's order says the terms of two settlements -- one for economic loss claims and the other for medical claims -- can be used starting June 4 to pay a defined class of claimants using fixed formulas, the Times-Picayune reported.

Objections can be filed by class members to either settlement by Aug. 31.The final settlement is expected to follow a Nov. 8 hearing.

Attorney General Pam Bondi has asked for the decision because she says it doesn't give full compensation to Floridians.

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