Koninklijke Ahold NV (Ahold) announced today that the United States District Court for the District of Maryland, has granted preliminary approval of its agreement to settle a securities class action entitled “In re Royal Ahold N.V. Securities & ERISA Litigation.” The Court also granted certification of the settlement class. The settlement is conditioned on final approval of the District Court for the District of Maryland.
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The class action was linked to an overstatement of profit in 2003.
Under the terms of the agreement in the securities class action, the lead plaintiffs in the securities class action agree to settle all claims against Ahold in the securities class action for the sum of US$1.1 billion (€945 million). The settlement covers Ahold, its subsidiaries and affiliates, the individual defendants and the underwriters.
