The Royal Dutch/Shell Group is to settle a lawsuit by it US employees. Costing $90m the deal centres on the restatement of its oil and gas reserves downwards by 41%.

Total cost to date of the legal wrangling is $240m. $25m of the latest settlement is to be met by insurance.

Employees involved in Employee Retirement Income Security Act (ERISA) plans, brought the action.

If approved by a New Jersey federal court, Shell will pay $1m in legal costs.

Other investigations are ongoing in the U.S., UK and the Netherlands.

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