Shell Accused Of Misleading Its Shareholders About The Risks Of Arctic Drilling
BY ELISE SHULMAN — GUEST CONTRIBUTOR POSTED 29 APRIL 2015 on thinkprogress.org
Shell Accused Of Misleading Its Shareholders About The Risks Of Arctic Drilling
If Royal Dutch Shell’s Arctic drilling program leads to a major spill, it could cost the oil company — and therefore its shareholders — an entire year’s worth of profit, according to a Tuesday legal filing by the conservation group Oceana and a University of Chicago law clinic.
But the company’s investors are not aware of that risk, the two groups alleged. Because of that, the groups filed a petition to the Securities and Exchange Commission, requesting that the agency launch a formal investigation into Shell’s risk disclosures to shareholders relating to its activities in the Arctic Ocean.
The TRUTH will set you FREE.