Administration April 11, 2007

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.
Reported by
Add as a preferred source on Google

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.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

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.

«