Approval of Class Action Settlement by the Amsterdam Court of Appeals Closes Chapter on One F Cubed Securities Litigation
By John A. Reding, Edward Han and Jason K. Sonoda
On Friday, May 29, 2009, the Amsterdam Court of Appeals approved a securities fraud class action settlement providing that Royal Dutch Shell pay $381 million to a foundation representing a group of more than 150 institutional investors from 19 countries. The approval of the settlement undoubtedly represents a landmark for European issuers and investors. As discussed below, however, the settlement arose from a combination of circumstances that may limit its impact on the resolution of f cubed actions filed in the United States.