Ahold Settles For $1B; Deloitte Still Facing $2B+ Claims

Law360, New York (November 28, 2005, 12:00 AM EST) -- Dutch food retailer Ahold NV said Monday it agreed to pay $1.1 billion to settle a class-action lawsuit brought by shareholders in the U.S. in the wake of an accounting scandal in which the company admitted to inflating its earnings.

But Ahold’s accountant, Deloitte & Touche, isn’t out of the woods yet, facing claims of more than $2 billion for its alleged role in the scandal that rocked markets on both sides of the Atlantic.

Under the terms of the settlement, Ahold will pay between $1...
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