Ahold Works Out $1.1B Securities Suit Pact

November 21, 2005 (PLANSPONSOR.com) - Lawyers for international supermarket company Royal Ahold N.V. have hammered out a deal with plantiffs' counsel that calls for Ahold to pay $1.1 billon to settle all pending securities claims.

According to news releases from both the plaintiffs and Ahold , the settlement disposes of all pending litigation other than claims against Deloitte&Touche entities. A number of the plaintiffs are institutional investors.

The settlement provides a recovery to all persons who purchased Ahold common stock and/or American Depository Receipts from July 30, 1999 through February 23, 2003, regardless of where such persons live or purchased their Ahold shares, the Web statement said.

The statements said Ahold will fund two-thirds of the $1.1 billon settlement amount upon the Court’s preliminary approval of the settlement, and Ahold will fund the remaining one-third of the settlement amount within six months of the Court’s final approval of the settlement.

Colorado PERA and Generic Trading of Philadelphia, LLC are the Court-appointed Lead Plaintiffs in the consolidated securities class action, In re Royal Ahold N.V. Securities & ERISA Litigation, which is pending before US District Judge Catherine Blake in federal court in Maryland.