March 6, 2008

Royal Dutch Shell Settles With U.S. Investors

Royal Dutch Shell p.l.c. (NYSE: RDS/A) has taken another step toward resolving the investor claims related to the company's 2004 recategorization of certain proved oil and gas reserves. After reaching a proposed settlement with non-U.S. shareholders last year for approximately $350 million, the company announced today that it has entered into an agreement in principle with U.S. shareholders. The U.S. class would receive a base settlement amount of approximately $83 million (based on proportions previously established in the proposed non-U.S. settlement), with an additional payment of $35 million to be divided proportionally between the U.S. class and the participants in the proposed non-U.S. settlement.

Posted by Lyle Roberts at March 6, 2008 5:53 PM | TrackBack
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