In re BP p.l.c. Securities Litigation - June 2016 Ruling. The case arose from plaintiffs' allegations that BP misled investors about its safety procedures and ability to respond to and contain an oil spill following the Deepwater Horizon explosion in April 2010.

This allegedly resulted in declines of BP's ADS price corresponding to a $91 billion market capitalization loss (associated with share price declines of approximately $26 on corrective event days). The plaintiffs also alleged that BP and its executives misled investors about the amount of oil flowing from the well after the explosion.

what events did they claim led to a significant market capitalization loss for BP?