Dutch retailer Ahold has said it has agreed with Dutch shareholder association VEB a postponement of the VEB’s legal challenge against the company regarding its annual accounts.
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“Ahold and the VEB have agreed – pending further consultation – that the proceedings will be put on hold and that the date on which Ahold is to file its statement of response, now scheduled for 13 May 2004, will be postponed,” Ahold said.
Back in January the VEB initiated proceedings aimed at forcing Ahold to restate its annual accounts for the fiscal years 1998, 1999, 2000, 2001 and 2002. Ahold urged the VEB to drop the action, saying it would negatively impact the company’s recovery.
