BP Plc (BP/) reached a settlement with the U.S. Department of Justice for $4 billion to end all criminal charges relating to the worst U.S. oil spill.
The payments will be made in installments over a period of five years, the London-based company said in a statement today. BP will also pay to $525 million to settle charges with the Securities and Exchange Commission.
The company pleaded to a total of 14 charges including 11 felony counts of misconduct or neglect of ships officers and one count of obstruction of congress.
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