Nailed by a private whistleblower over false claims, Shell Oil Co. has forfeited a chance to collect up to $150 million from a state-run fund that reimburses oil companies for cleaning up leaking underground storage tanks.
Besides losing out on the potential reimbursements, Shell will pay $20 million in penalties under a settlement announced Friday by California officials, bringing the total cost to as much as $170 million. The whistleblower will collect a portion of the $20 million.
Shell and...
More