Florida real estate developer St. Joe Co. is suing Halliburton Co., saying the oil-services company "was grossly negligent and bears full responsibility" for the rig explosion that led to the massive oil spill in the Gulf of Mexico.
St. Joe says Halliburton ignored safety procedures and didn't properly manage the well cementing process. Halliburton had workers on the rig, but it was not responsible for most decisions.
Since the rig explosion in April, St. Joe says the value of its properties has declined substantially. St. Joe, based in Watersound, Fla., owns about 577,000 acres in Florida, 70 percent of which are within 15 miles of the coast.
Halliburton wasn't immediately available to comment.
St. Joe filed the suit late Wednesday in Delaware Superior Court.
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