Ahold has said that the United States District Court of Maryland has approved Ahold’s agreement to settle the securities class action brought against the company by shareholders for overstating profit.
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In January, the court had granted preliminary approval of the deal with shareholders over the 2003 accounting scandal, when the company overstated its profits by almost EUR1bn (US$1.3bn).
According to the terms of the deal, lead plaintiffs in the action agree to settle all claims against the company in exchange for US$1.1bn.
