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What are the details of the SEC’s settlement with Royal Dutch Petroleum Company and The Shell Transport and Trading Company, PLC?

April 26, 2017COMPANY Dutch Petroleum Royal sec Shell trading transport

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What are the details of the SEC’s settlement with Royal Dutch Petroleum Company and The Shell Transport and Trading Company, PLC?

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Royal Dutch Petroleum Company and Shell Transport and Trading Company (combined “Royal Dutch/Shell Transport”) paid approximately $120 million as part of the resolution of claims by the SEC that Royal Dutch/Shell Transport issued materially false and misleading financial statements in various reports and in filings with the SEC. The Royal Dutch/Shell Transport SEC Settlement (the “Fund”) will be distributed to eligible Royal Dutch/Shell Transport investors according to the terms of the Distribution Plan as approved by Judge John D. Rainey of the U.S. District Court for the Southern District of Texas on May 22, 2008.