Assessment of current situation in the price-rigging investigation partly based on an articled published today by The Lawyer today under the headline “All eyes on energy“:
- Royal Dutch Shell is being advised by Clifford Chance in relation to the allegations of price-fixing.
- Competition lawyers say that the investigation could be “bigger than Libor”.
- If the allegations prove to be true, there is the prospect of unlimited fines and jail terms of up to 5 years for directors.
- There is an incentive of reduced sanctions dependent on the degree of co-operation i.e. turning informer.
- Shell has confirmed that it is co-operating with the investigation.
- Shell lawyers will have to decide whether to defend or continue to co-operate.