IN RE ROYAL DUTCH/SHELL TRANSPORT SECURITIES LIT.

No. 04-374 (JAP).

404 F.Supp.2d 605 (2005)

In re ROYAL DUTCH/SHELL TRANSPORT SECURITIES LITIGATION.

United States District Court, D. New Jersey.

December 12, 2005.


Attorney(s) appearing for the Case

Stanley D. Bernstein, Jeffrey M. Haber, William A.K. Titelman, Mark T. Millkey, Michael S. Bigin, Bernstein, Liebhard & Lifshitz, LLP, New York City, for Pennsylvania State Employees' Retirement System and the Pennsylvania Public School Employees' Retirement System, and Lead Counsel for the Class.

John E. Keefe, Jr., Stephen T. Sullivan, Jr., Lynch Keefe Bartels, Esqs., Shrewsbury, NJ, Liason Counsel for the Class.

Thomas W. Corbett, Jr., Attorney General, Daniel J. Doyle, Senior Deputy Attorney General, Office of Attorney General Litigation Section, Harrisburg, PA, Gerald Gornish, Chief Counsel, Lenann T. Engler, Assistant Counsel, Legal Office of Commonwealth of Pennsylvania Public School Employees' Retirement System, Harrisburg, PA, Michael A. Budin, Chief Counsel, Brian E. McDonough, Deputy Chief Counsel, Legal Office of Commonwealth of Pennsylvania State Employees' Retirement System, Harrisburg, PA, for Plaintiffs.

Joseph I. Goldstein, Richard J. Morvillo, Bruce M. Bettigole, Adriaen M. Morse, Jr., Mayer, Brown, Rowe & Maw, LLP, Washington, DC, for Sir Philip R. Watts.

Colby A. Smith, Scott N. Auby, DeBevoise & Plimpton, LLP, Washington, DC, Ralph C. Ferrara, Ann M. Ashton, Jonathan E. Richman, LeBoeuf, Lamb, Greene & Macrae, LLP, Washington, DC, for N.V. Koninklijke Nederlandsche Petroleum Maatschappij (Royal Dutch Petroleum Co.) and The "Shell" Transport and Trading Co., Public Ltd. Co.

Jeffrey A. Cohen, Owen J. McKeon, Robertson, Freilich, Bruno & Cohen, LLC, Newark, NJ, for N.V. Koninklijke Nederlandsche Petroleum Maatschappij (Royal Dutch Petroleum Co.) and The "Shell" Transport and Trading Co., Public Ltd. Co., Sit Philip Watts, and Judith Boynton.

Nancy J. Sennett, Rebecca E. Wickhem, Foley & Lardner, LLP, Milwaukee, WI, Samuel J. Winer, Foley & Lardner, LLP, Washington, DC, for Judith Boynton.

William R. Maguire, Derek J.T. Adler, Hughes, Hubbard & Reed, LLP, New York City, Wilfred P. Coronato, John N. Poulos, Hughes, Hubbard & Reed, LLP, Jersey City, NJ, for PricewaterhouseCoopers LLP.

John M. Dowd, Evangeline C. Paschal, Paul W. Butler, Jeffrey M. King, Akin, Gump, Strauss, Hauer & Feld, LLP, Washington, DC, for Walter van de Vijver.

Steven F. Molo, John Gueli, Shearman & Sterling, LLP, New York City, Donald A. Robinson, Leda Dunn Wettre, Robinson & Livelli, Newark, NJ, for KPMG Accountants N.V.

James R. Warnot, Jr., Michael J. Osnato, Jr., Linklaters, New York City, J. Michael Riordan, Bressler, Amery & Ross, PC, Florham Park, NJ, for KPMG International.


OPINION

PISANO, District Judge.

I. INTRODUCTION

The claims in this putative securities fraud class action stem from the dissemination of what Lead Plaintiff characterizes as "materially false and misleading statements" concerning the reported proved oil and natural gas reserves of the Royal Dutch Petroleum Company and the Shell Transport and Trading Company, PLC (together, "Royal Dutch/Shell"). See Consolidated Amended Class Action...

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