AFX Europe (Focus): Royal Dutch/Shell settles employee class action suit, to pay some 90 mln usd
“The Royal Dutch/Shell Group said it reached a settlement in a class action and related litigation brought against certain group companies on behalf of some employees and relating to Shell’s reserves recategorisations.”
Tuesday July 12, 2005
AMSTERDAM (AFX) – The Royal Dutch/Shell Group said it reached a settlement in a class action and related litigation brought against certain group companies on behalf of some employees and relating to Shell’s reserves recategorisations.
If the settlement is approved by the court, Shell will pay 90 mln usd which, after deduction of certain expenses, will be distributed to eligible participants in the relevant US employee savings plans.
Shell also has agreed to pay up to 1 mln usd of plaintiffs’ counsel’s expenses and the costs of providing notice to class members.
As part of the settlement agreement, Shell has agreed to adopt certain new procedures for monitoring and training individuals appointed to fiduciary positions in savings plans that are subject to ERISA (Employee Retirement Security Act of 1974).
Shell noted that of the proposed settlement amount, 25 mln is covered by insurance policies.
The settlement relates to all ERISA-based claims relating to the reserves recategorisations, but does not relate to or affect pending securities claims, the company noted.
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
