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Shell Group



Employees of the company filed a class action lawsuit related to the reserves overbooking scandal from 2004. Investors were surprised when Shell slashed its proven reserves of oil and gas. Shell agreed to a $90 million settlement to be distributed among employees who participated in certain employee savings plans. The settlement relates to all ERISA based claims relating to the reserves recategorisations. (Jul-12-05) [BUSINESS WORLD]


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