WASHINGTON, May 17, 2016 /PRNewswire/ -- RCB Fund Services LLC, the Distribution Agent for the BP plc ("BP") Fair Fund (the "BP Fair Fund"), announces the opening of the claims process for the BP Fair Fund. The BP Fair Fund was established by the United States Securities and Exchange Commission ("SEC") to distribute $525 million in civil money penalties to investors harmed by BP's material misrepresentations and omissions regarding the rate at which oil was flowing into the Gulf of Mexico as the result of the explosion on the offshore oil rig Deepwater Horizon. Pursuant to the Plan of Distribution (the "Plan") approved by the SEC on February 3, 2016, the BP Fair Fund will compensate investors who suffered harm as a result of purchasing BP American Depositary Shares ("ADS") through a U.S. securities exchange between April 26, 2010 and May 26, 2010 and who satisfy the conditions of the Plan. The Plan contains a description of all eligibility and other conditions to participation and can be found at: www.bpfairfund.com or www.sec.gov.
Who is Eligible to Participate in the Fair Fund?
Any person or entity that purchased BP ADS on a U.S. exchange during the period from April 26, 2010 through May 26, 2010 is eligible for compensation from the BP Fair Fund subject to certain other eligibility limitations described in the Plan.
BP American Depositary Shares – (BP) CUSIP: 055622104
Determination of Eligible Losses
The amount of compensation shall be determined by reference to the plan of allocation included in the Plan and will vary based on the exact dates of transactions in BP ADS during the relevant period, the number of BP ADS purchased and/or sold, and the total dollar value of eligible claims submitted to BP Fair Fund.
How to Apply?
In order to be eligible for a recovery, you must submit a completed claim form and supporting documentation on or before the claims deadline. The simplest and fastest way to participate is to file a claim online through the BP Fair Fund website: www.bpfairfund.com. If for any reason you are not able to utilize our online filing, you may download and print a copy of the claim form from the website and mail the completed claim form to the BP Fair Fund at the address shown below. You may also ask the Distribution Agent to mail you a claim form by calling us toll free at (866) 344-7868, or by sending an email request to [email protected].
Claim Filing Deadline
Claim forms must be postmarked no later than midnight on September 13, 2016. If you need assistance in completing the claim form, please contact the Distribution Agent or visit www.bpfairfund.com
BP Fair Fund, P.O. Box 6980, Syracuse, NY 13217-6980.
Toll free number: (866) 344-7868.
SOURCE RCB Fund Services LLC