Thursday, April 12, 2007
In what may be the first pan-European settlement of a securities fraud case, Royal Dutch Shell agreed to pay $352.6 million to settle all claims brought by European investors, as well as $47 million in attorneys fees to three American law firms. A separate case involving U.S. investors is proceeding in federal district court. The charges in both cases relate to alleged overstating of hydrocarbon reserves from 1999-2004. See Shell Settles European Case -- U.S. Style.