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Settlement reached in oil spill disaster

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It's been three years since the accident that led to the worst offshore oil spill in U.S. history.

Those affected are finally seeing justice served now that a long-awaited settlement has been reached.

Oil giant BP has pleaded guilty to manslaughter charges for the death of 11 rig workers and will pay a record $4 billion in penalties.

A series of government investigations have blamed the 2010, blowout on time-saving, cost-cutting decisions by BP and its partners on the drilling project

The judge in the case says if the case had gone to trial there was a risk of BP getting a much lower fine, one potentially capped by law at $8.2 million.

The Justice Department also reached a separate settlement with rig owner Transocean.

Transocean agreed to plead guilty to a misdemeanor charge of violating the Clean Water Act and pay $1.4 billion in civil and criminal penalties.

The settlements still need to be accepted by a judge.

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