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7

$90 million — And You're Satisfied

British oil group Shell has settled a class action lawsuit

British oil group Shell has settled a class action lawsuit by some of its US employees for $90 million.

The American staff had Shell shares in their pension funds. Other shareholders are suing the company and separate talks to settle that action are continuing.

In the deal struck with employees' lawyers, Shell will pay up to $1m for costs. The company has also agreed new rules for staff who are charged with looking after their pension funds, dealing with the way they are monitored and trained.