(CN) - BP will pay $4.5 billion and plead guilty to felonies to settle federal charges over the 2010 oil disaster that resulted in 11 deaths, the company said Thursday.
The deal reportedly marks the largest penalty of its kind, toppling an honor previously held by Pfizer after it agreed to a $1.2 billion fine in 2009. "As part of the resolution, BP has agreed to plead guilty to 11 felony counts of Misconduct or Neglect of Ships Officers relating to the loss of 11 lives; one misdemeanor count under the Clean Water Act; one misdemeanor count under the Migratory Bird Treaty Act; and one felony count of obstruction of Congress," according to a statement on BP's website.
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