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Shell reserves fraud will likely cost shareholders over $900 MILLION USD

By John Donovan

According to our calculations the Shell reserves fraud will probably cost Shell over $900 million USD approx.

This is made up of: –

$79.9 to U.S. shareholders
$2.95 million to U.S. shareholders
$35 million to be divided between U.S. and European settlement claimants
$352.6 million solely to European shareholders
$90 million paid as a settlement in 2005 of a U.S. class action brought by Shell U.S. employees
$47 million legal costs for European claims
$27 million legal costs for U.S. claims
$100 million – our rough estimate of Shell’s own legal costs covering both companies and all defendant employees
$150 million – fines imposed on Shell by the SEC and the FSA

$30 million plus: estimated cost buying silence of disgraced executive directors

Consequently the total cost to Shell shareholders will be at least $900 million approx subject to interest, extra legal costs, any unanticipated litigation : less any refund from the SEC. and its sister non-profit websites,,,,,, and are owned by John Donovan. There is also a Wikipedia feature.

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