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Posts Tagged ‘Beat Hess’

An Open Letter to Richard Wiseman, Chief Ethics Evader & Non-Compliance Officer, Royal Dutch Shell Plc from Ray Fox

You will recall the white worms, dying trees and plants in my garden callously dismissed by you at the time as "your horticultural problems" – those "problems" subsequently ruined the lives of my family.

Shell pays $9m to settle investor lawsuit

The Guardian (UK): Shell pays $9m to settle investor lawsuit

“Shell still faces a much larger and potentially damaging class action from a wider group of shareholders as well as investigations by the operator of the Dutch stock market, Euronext, and a state regulator in California.”

Friday Sept 02, 2005

TERRY MACALISTER

Shell has been forced to pay out $9.2m (pounds 5m) in legal fees and make changes to its corporate governance structure as part of a settlement with disgruntled shareholders.

The case pending in New York and New Jersey courts followed the January 2004 statement from Shell that it had overstated its oil and gas reserves in filings with the US regulator, the securities and exchange commission.

Shell still faces a much larger and potentially damaging class action from a wider group of shareholders as well as investigations by the operator of the Dutch stock market, Euronext, and a state regulator in California. read more

Lloyds List: Shell pays $90m to settle law suit from employees whose savings fell

Lloyds List: Shell pays $90m to settle law suit from employees whose savings fell

“ROYAL Dutch Shell has agreed to pay more than $90m to settle a law suit issued by its own employees…”

Wednesday 13 July 2005

By Martyn Wingrove

ROYAL Dutch Shell has agreed to pay more than $90m to settle a law suit issued by its own employees who lost retirement savings value when the firm’s share price sank last year.

The Anglo-Dutch oil giant was hit with a class action law suit from employees when their savings plans lost value because Shell’s share price tumbled during the reserves scandal last year.

The world’s third largest oil company revealed it had exaggerated the volume of oil and gas resources booked as proven for years last year and slashed proved reserves by almost a third. read more

Financial Times: R Dutch/Shell pays $90m damages

Financial Times: R Dutch/Shell pays $90m damages

“Royal Dutch/Shell, the Anglo-Dutch energy group, yesterday agreed to pay $90m (£51m) damages to settle claims by US employees who say their savings plan was hurt by the company’s admission last year that it had overstated its oil reserves.”

Wednesday 13 July 2005

By Thomas Catan

Published: July 13 2005

Royal Dutch/Shell, the Anglo-Dutch energy group, yesterday agreed to pay $90m (£51m) damages to settle claims by US employees who say their savings plan was hurt by the company’s admission last year that it had overstated its oil reserves. If the court agrees, Shell will also pay $1m in legal expenses to the plaintiffs.

Beat Hess, Shell’s legal director, said: “Shell believes that this is a good settlement for plan participants and for the companies. We are hopeful that the court will approve the settlement, which represents an important step toward putting litigation relating to the reserves recategorisations behind us.” Thomas Catan read more

Legal Week reports: Slaughters to remain Shell’s top dog

Legal Week reports: Slaughters to remain Shell’s top dog

“Group general counsel Beat Hess oversees the department globally, which has more than 600 lawyers.”

22 July 04

Shell looks set to retain Slaughter and May as its primary legal adviser in the oil giant’s global legal panel review.

The FTSE 100 oil giant has already compiled a shortlist of around 20 advisers following internal discussions and will hold an informal tender process with firms over the coming weeks, with cost playing a major factor. The review started in April and is due to conclude at the end of September.

Shell, which has an annual legal budget of more than $100m (£54m), plans to cut the number of UK firms it uses for international work to around five with the intention of building closer links with a smaller number of firms. read more

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