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The U.S. Supreme Court on Monday declined a request from shareholders seeking to revive their class action lawsuit against BP claiming the British oil company misrepresented its safety procedures prior to the 2010 Gulf of Mexico oil spill. The court left in place a September 2015 ruling by the New Orleans-based 5th U.S. Circuit Court of Appeals that refused to certify the lawsuit filed by investors who bought shares in the 2-1/2 years before the spill. The appeals court said some of the investors might have bought the stock even knowing the risk, and these investors may still sue BP individually.
Warren Buffett, chairman and chief executive of conglomerate Berkshire Hathaway, said Monday he would be more likely to buy than sell IBM shares over the next two years, and that he did not seek to profit from global central bank actions. Buffett, who presided over Berkshire's 51st annual shareholder meeting in Omaha, Nebraska over the weekend, told cable television network CNBC: "We would be much more likely to buy more in the next 12 or 24 months than we would be to sell shares, but we will make that call as time goes along." Buffett, whose Berkshire held an 8.59 percent stake in IBM as of the end of last year and who has caught some flak for his stake, said his cost basis in IBM was around $170 a share and that he had still never sold a share.