From IEEE Std 1100-1999, "IEEE Recommended Practice for Powering and Grounding Electronic Equipment":
4.8.1 Electrostatic shielding
"In order to be effective, shields must be grounded via low-impedance paths at the frequencies of interest. Long grounding conductors and long (single-grounded) shields exhibit reduced effectiveness at high frequencies due to inductive reactance in the grounding conductor or shield (e.g., +jX is randomly being placed in series with -jX). Therefore, very short grounding/bonding leads must be used, and they must be connected at the nearest equipment ground. Long shields need to be grounded at multiple locations along their length. Cable shields must be either grounded at both ends or grounded at one end and grounded via an SPD at the opposite end."
4.8.2 Electromagnetic shielding for EMI
"... The following generalizations are also pertinent:
...e) Enclosing the signal conductors inside of a shield and then grounding the shield at both ends. This is a key concept for protection of the contained conductors from the H-field effects produced by nearby lightning and other surge currents."
4.8.2.1 Cable shields grounded at both ends
"The "golden rule" of cable shielding requires that the shield on a cable only be grounded one time and at one end only. This "rule" has been established in order to prevent conductive "ground loops" from being established that would cause unwanted current to flow in a shield that is grounded at more than one place, e.g., at each end. The problem is that this is not a valid "rule" except sometimes when dealing with dc through LF signals (particularly analog signals) and where the signal circuits are not connected in the differential mode."
From IEEE Std 518-1982 (I apologize for the out of date copy), "IEEE Guide for the Installation of Electrical Equipment to Minimize Electrical Noise Inputs to Controllers from External Sources":
6.4.2.7 Practical Noise Immunization Techniques and Intercconection Wiring Practices.
"(10) All electrostatic shields should be terminated. An electrostatic shield should be terminated at one point only. The shield termination point should be at the same electrical potential as that to which the signal is referenced (typically amplifier power supply common).
(11) If a significant potential difference exists between a shield termination point and equipment safety ground, special electrostatic shielding techniques may be required."
Clearly not a simple subject, given the conflict between 1982 and 1999 IEEE standards regarding single-point grounding of electrostatic shields. This subject is certainly worthy of more than a pat answer. I encourage simpsy to investigate the standards cited above, as well as other relevant standards and material.