The Real Deal Miami

Florida developer sues Halliburton

August 06, 2010 09:45AM

A St. Joe property near Panama City

St. Joe Co., a Florida developer that owns resorts on the Gulf of
Mexico, has filed a lawsuit against Halliburton, seeking more than $1
billion in damages related to the BP oil spill. The action was filed in
state court in Delaware, alleging that Halliburton, which provided
important structural work on the oil well, “ignored multiple warning
signs” of danger on the rig. St. Joe owns 577,000 acres of Florida land,
mostly within 15 miles of the Gulf, and is the Florida Panhandle’s
biggest landholder. Its stock price fell 40 percent in the weeks after
the spill began. [WSJ]