Ahold announced last Friday that the US District Court in Maryland has approved a $1.1 billion settlement of a class action suit brought by shareholders after the company’s 2003 accounting scandal.
A preliminary approval was issued last January by the court. The settlement closes the legal books on complaints after Ahold admitted that it had artificially inflated its stock price by overstating profits, an admission that threw the retailer into turmoil and forced the resignation of a number of senior executives.
A preliminary approval was issued last January by the court. The settlement closes the legal books on complaints after Ahold admitted that it had artificially inflated its stock price by overstating profits, an admission that threw the retailer into turmoil and forced the resignation of a number of senior executives.
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