Financial Times: Letters: Pension fund litigation against Shell will only benefit the lawyers: Monday 16 January 2006

By Martin Simons

Published: January 16 2006

From Mr Martin E. Simons.

Sir, What is the point of us and Dutch Pension Fund investors ("Shell faces action by 26 pension funds", January 10) suing Shell for mis-stating resource reserves according to SEC definition? Litigation distracts Shell management from its prime tasks. Any damages and costs awarded against Shell will be at the expense of all shareholders, including yours truly. It seems all shareholders are equal but some are more equal than others.

The lawyers, needless to say, will be enjoying fat fees at the expense of all of us. Should private shareholders band together to sue irresponsible litigants who lack common sense?

Martin E. Simons,

London SW15 6HJ

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