Royal Dutch Shell PLC and a group of 50 European investors, including the $230 billion Stichting Pensioenfonds ABP, agreed to a settlement of almost $455 million over claims that Shell overstated its proven oil and gas reserves from 1997-2003, according to Jay W. Eisenhofer, managing partner of the law firm of Grant & Eisenhofer, which represents the group, and a company filing with the SEC.
Royal Dutch Shell did not admit any wrongdoing as part of the settlement, according to the SEC filing.
The settlement, which will be paid to all European investors who bought shares in the company during the period, consists of a cash payment by Shell of $358.85 million and an additional $96 million paid to the SEC as part of a consent agreement, as well as expenses and attorney fees, bringing the total to $454.85 million, Mr. Eisenhofer said in an interview.
The group will present the class-wide settlement agreement to the Court of Appeals in Amsterdam for its approval. A hearing date hasn’t been scheduled.
“Shell intends to offer the same proportional settlement to investors in the U.S., provided the U.S. court overseeing the case approves,” the filing said.
The European settlement is contingent on Judge Joel A. Pisano of U.S. District Court in Trenton, N.J., ruling not to include claims against Royal Dutch Shell brought by non-U.S. resident investors who purchased Shell stock on European exchanges, the statement said. A hearing is scheduled for June 15. “If the U.S. court retains jurisdiction over these investors, the settlement will be null and void,” the statement said. “If, however, the court decides not to exercise jurisdiction over non-U.S. shareholders, then the announced settlement in the Netherlands becomes effective.”
Posted: April 11, 2007, 4:06 PM EST
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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.
