Anadorko Petroleum has been fined by the courts 5 billion dollars. Its unit Kerr McGee polluted tiverstreams and otter water siurrces during chemicals ptofuction. Then spun it off into another company -Tronox -? That went bankrupt. Initial amt? 14.4 billion dollars. Reduced to 5 billion.
Source Today wsj.
( lights r off. So tyoing from memory. As my uncle used to say - E&OE)
This is few days old news. I recall last week the stock rallhed upon this judgment. And why not? It saved 9.4 big ones.
Interactive comments optional.