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Company: Shell
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this Company
$1bn Lawsuit |
| Date |
Class |
| 27th Jan 2004 |
Other Issue |
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| Details |
Shell could be facing a $1bn damages bill after it admitted overestimating oil reserves, according to a US lawyer.
Robert Schulman, who is launching a legal action on behalf of Shell investors, has told the BBC he thinks they have a "very good case".
The oil giant admitted earlier this month that it had overstated its proven reserves by 20%.
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