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Court Approves Ahold's $1.1 Billion Payout

Law360 (June 19, 2006, 12:00 AM EDT) -- A federal court in Maryland has approved a $1.1 billion settlement agreement, bringing a 3-year old class action securities suit against Dutch retailer Royal Ahold N.V. to a close. U.S. shareholders filed the lawsuit in the wake of a massive accounting scandal that brought Royal Ahold to the brink of collapse in 2003.

The settlement is "fair to all parties" and removes a significant liability for Ahold, said Glenn Kurtz of the law firm White & Case, which represented Royal Ahold.

On June 16, U.S. District...
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