Sunday Telegraph: Shell’s auditors in firing line as US lawyers prepare class action
“Shell had ignored internal warnings for several years that it was overstating its reserves to maintain the appearance of having a strong oil and gas reserves base”
By Sylvia Pfeifer (Filed: 29/08/2004)
The US law firm leading class action lawsuits against Shell is considering targeting the oil giant’s external auditors, KPMG and PricewaterhouseCoopers, over their alleged role in the overbooking of reserves.
Stanley Bernstein, the senior partner with Bernstein Liebhard & Lifshitz, which is heading the class actions as “lead plaintiff” on behalf of investors, said that his firm was considering including the auditors when it files an amended complaint against Shell next month.