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In an ideal situation, you would not be okay. BP wouldn't have even the potential of protection, and your investment would be wiped out.

Your punishment would be proportionate to your involvement.

The difference isn't anything to do with you paying (or owning stock in them) but rather intention. If you were paying someone to refill boats with oil, and they unintentionally spilled a bunch (just as BP did), you'd be liable in the same way as BP is now.

Note that BP is in trouble... There will be lawsuits all over the place, and not just from shareholders.

My question is, why not go after the shareholders in addition to BP?

simply enough: it's. not. their. fault.

How many shares do you have to sell before it's not $crime_for_hire?

Mu. Buying a hitman lunch does not make you an accessory to murder.

Well, if you gave the orders or where an accessory or actor, you're still in trouble. If that's what you mean by putting "invest in" in quotes.