Comptroller Tom DiNapoli cheered this morning a federal judge in Houston’s decision Thursday to allow a securities class action against BP to move forward in the wake of the April 2010 oil spill that crashed the company’s stock.

“We are pleased that the New York State Common Retirement Fund’s claims on behalf of BP’s investors will proceed,” DiNapoli said. “Shareholders saw their investments plummet in value following the Deepwater Horizon catastrophe. Now information has come to light that BP was wholly unprepared to respond to the risks of its deep sea operations and incapable of adequately reacting when something went wrong.”

DiNapoli’s office says the decision came after the company made a motion to dismiss the case in November 2012 the lawsuit filed by the state Common Retirement Fund and others.

The suit is one of several moves DiNapoli has made his time in office that uses the state retirement fund’s investments in companies for socially conscious purposes. Most recently, DiNapoli freezed pension fund investments in gun manufacturers in the wake of the Connecticut school shooting in December.

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