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JURIST Legal News & Research (USA): Shell to appeal judicial continuance of class action law suit

JURIST Legal News & Research (USA): Shell to appeal judicial continuance of class action law suit

Posted Wednesday 17 August 2005

Bernard Hibbitts, Publisher & Editor-in-Chief

Shell to appeal judicial continuance of class action law suit
Elana Kornblit at 8:47 PM ET

Royal Dutch/Shell Group [corporate website] said Tuesday that it will appeal a decision which allows a class action lawsuit for stock fraud to continue against the company. A federal judge ruled Tuesday that the suit, questioning whether Shell’s statements on its reserves [JURIST report] purposely misrepresented important facts, adequately showed reason for further investigation into the shareholder plaintiffs’ allegations. The US Department of Justice [official website] has also launched a criminal investigation, according to the US District Judge John W. Bissell’s Tuesday opinion. This differs from the department’s June 29 statement that the criminal investigation was officially ended [JURIST report]. AP has more.

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