Royal Dutch Shell Plc  .com Rotating Header Image

Daily Telegraph: Shell settlement rises to $470m

Friday, March 7, 2008

Royal Dutch Shell has agreed to pay $89.5m (£40m) to settle a lawsuit by US-based investors over the oil company’s 2004 restatement of oil and natural gas reserves.

Shell also will pay an additional $28.3m to investors in a European settlement, raising the company’s total payout over the restatement to $470m.

The scandal, in which Shell booked reserves it did not have, led to fines and the resignation of senior executives.

Shell said yesterday it had “made a huge step toward closing the chapter of legal disputes and controversies”.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “Daily Telegraph: Shell settlement rises to $470m”

Leave a Comment

%d bloggers like this: