Shell To Pay $8M To Finalize Deal In Investor Suit

Law360, New York (February 16, 2011, 7:51 PM EST) -- A Royal Dutch Shell PLC subsidiary is seeking approval of a deal in which it would pay an additional $8 million to finalize an $83 million settlement with U.S. shareholders in a class action over the company's recategorization of oil reserves.

The amount would correct a provision included at the time of the original settlement, reached in 2008, which disproportionally estimated the percentage of shareholders who purchased shares on non-U.S. exchanges, Royal Dutch Petroleum Co. and the lead plaintiffs said in the U.S. District Court for...
To view the full article, register now.