Nearly five years after the disaster, Louisiana Lawsuit Abuse Watch took a close look at where all the money from the BP settlement is going and asked the critical question: Who is benefiting most from the unprecedented class action settlement set up to compensate victims in the aftermath of the 2010 oil spill?
Lawsuit lenders often offer loans to consumers with hidden fees and sky-high interest rates that can range between 60-150 percent annually. To put that in perspective, the average annual percentage rate on a credit card is 13.3 percent.
Louisiana made the cut this year on an exclusive list, but this is not good news for business owners and consumers who have a stake in energy exploration and production.
Concerned citizens are invited to visit the Louisiana Lawsuit Abuse Watch (LLAW) group online where they can select their top choice for the most outrageous lawsuit of the year. But it will be not be easy, Melissa Landry, the group’s executive director, points out.