BP Told to Stop Distributing Oil Spill Settlement Agreements

[phantom power]

BP is financially responsible for the devastatingly massive oil spill off the Gulf of Mexico, but some are concerned the oil company isn't giving residents along the affected coastline or emergency relief crews a fair shake.

Alabama Attorney General Troy King said Sunday night that he has told BP they should stop circulating settlement agreements among coastal Alabamians, the Mobile Press-Register reports. King reportedly said the agreements stipulate that residents will give up their right to sue the company in exchange for a payment of up to $5,000.

"People need to proceed with caution and understand the ramifications before signing something like that," said King, who noted that he is prohibited from giving legal advice to private citizens. "They should seek appropriate counsel to make sure their rights are protected."

The Press-Register reports that BP spokesman Darren Beaudo responded, "To the best of my knowledge BP did not ask residents of Alabama to waive their legal rights in the way that has been described."

http://www.cbsnews.com/8301-503544_162-20003978-503544.html

[pscot]

1. "Up to" $5000 is good

Maybe they should make every signed release elegiblle for a grand prize drawing. Sign away your rights and win a million.