Royal Dutch Shell Plc  .com Rotating Header Image

Dutch Court Throws Lifeline for Non-US Class Action Lawsuits

The court was used once before in a similar case launched in 2007 against Royal Dutch Shell, when investors resolved their claims for €316 million with the oil giant.

Wednesday, January 25, 2012 7:22:02 AM

Pension, endowment funds, and other international shareholders have a new avenue of enquiry to seek damages of alleged corporate fraud thanks to a European court decision.

(January 25, 2012)  —  The first class action lawsuit settlement to be approved for shareholders based outside the United States, since the Supreme Court tightened rules about international investors seeking redress through its legal system in 2010, has thrown a lifeline to asset owners suspicious of corporate fraud.

A case brought by international pension schemes, endowments and other large investors against Swiss reinsurer Converium Holding (now Scor Holding (Switzerland)), was settled out of court with damages of over $58 million being approved for distribution by the Amsterdam Court of Appeal last week.

The court was used once before in a similar case launched in 2007 against Royal Dutch Shell, when investors resolved their claims for €316 million with the oil giant.

FULL ARTICLE

Contact the writer of this story:Elizabeth PfeutiEuropean Editor, aiCIO(44) 207 397 3816[email protected]Follow on Twitter at @ai_CIO
royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

0 Comments on “Dutch Court Throws Lifeline for Non-US Class Action Lawsuits”

Leave a Comment

%d bloggers like this: