The plan, spanning four tiers of investment options between 1999 and 2020, currently safeguards retirement savings for over 30,000 participants. The plaintiffs argue that these missteps bled employees’ savings, warranting broad legal scrutiny.
Shell’s Pushback on Class Certification Falls Short
Shell fought back against class certification, arguing that the plaintiffs were unfit to represent the entire class since they had only invested in select tiers of the plan. The oil giant also claimed that the proposed class was overly broad, potentially including members who suffered no harm.
Judge Edison dismissed these objections, citing Fifth Circuit precedent that allows for class certification even when some members may not have experienced losses. Judge Brown, in his Monday ruling, agreed, greenlighting two certified classes: one encompassing all Shell 401(k) participants from Jan. 21, 2014, through judgment day, and another specifically for those who used the plan’s managed account services during that period.
No Early Wins as Financial Disputes Loom
As the lawsuit churns forward, both sides sought early victories—but neither got their wish. In a November 2023 report, Judge Edison urged the court to deny motions for summary judgment from both the workers and Shell, citing unresolved factual disputes.
