Amsterdam Court Dismisses Billion-Euro Claims Against Orbia by Shell and Repsol

Regulation
โดย Business Wire·Read original
Summary · why it matters

The Amsterdam District Court has dismissed two major lawsuits against Orbia and its Vestolit affiliate, rejecting claims by Shell and Repsol that together sought over a billion euros in damages. The rulings are the first two of 13 lawsuits stemming from a 2020 EU settlement, with the court finding it was not plausible that the conduct at issue caused harm to either plaintiff. Orbia General Counsel Sheldon Hirt said the decision is a victory for smaller purchasers and consumers, arguing that the claimants benefited from rising profit margins during the period in question. The company stated it will continue to vigorously defend against the remaining claims.

Impact on stocks 2

Energy▼ · 1 stocks
Repsol S.A.
REP
▼ NegativeRegulationrelevance

Repsol's billion-euro claim against Orbia was dismissed by the court.

Energy Transition & Power Demand▼ · 1 stocks
Shell plc
SHEL
▼ NegativeRegulationrelevance

Shell's billion-euro claim against Orbia was dismissed by the court.

Off-coverage companies 2

Orbia Advance Corporation, S.A.B. de C.V.Private▲ Positive
Regulationrelevance

Orbia won dismissal of two major lawsuits seeking over a billion euros in damages.

VestolitPrivate▲ Positive
Regulationrelevance

Vestolit, as Orbia's affiliate, benefited from the dismissal of claims against it.

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