Deloitte Faces Dutch Shareholder Suit Over Ahold Fraud

Law360, New York (February 8, 2012, 3:26 PM EST) -- A Dutch shareholders' lobby group is suing Deloitte & Touche LLP over its role as the auditor of a U.S. subsidiary of Dutch international supermarket chain Royal Ahold NV that allegedly engaged in an $800 million scheme — which drew criminal charges — to overstate the company's income, the group announced Wednesday.

The association Vereniging van effectenbezitters — or Dutch Shareholder Rights, in English — said it is taking action against Deloitte and 178 of its affiliates for failing to notice the fraud at subsidiary U.S....
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