Shell Earmarks $500M For Possible Settlement
The lawsuits stem from Shell’s January 2004 announcement that it had overstated its oil reserves by about 20%, news that sent the company’s stock prices tumbling.
The revelation of the settlement provision came as part of the company’s 2006 unaudited financial results, which were released on Thursday.
“In connection with the putative shareholder class actions…Shell has determined that it would...
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