Pension funds sue Shell over reserves scandal - papers 10th January

A PENSION FUND giant with 2.5 million members and £115bn of assets has launched a lawsuit against Royal Dutch Shell, its auditors and some of its directors yesterday, reports The Times. ABP, which looks after the pension funds of Dutch public sector workers and 25 other Dutch pension funds, is seeking hundreds of millions of dollars in compensation over Shell’s exaggerated-reserves scandal. Sir Mark Moody-Stuart, the former Shell chief, and the auditors KPMG and PricewaterhouseCoopers (PwC) are among the defendants accused of making false and misleading statements. The Dutch funds ...