Ahold to Pay Shareholders $1.1 Billion to Settle Civil Suits

Royal Ahold NV, which owns the Stop & Shop and Giant supermarket chains in the United States along with other retail operations worldwide, said Monday it has agreed to pay $1.1 billion to settle a class action lawsuit brought by U.S. shareholders after its 2003 accounting scandal. Ahold's top lawyer said it was a coincidence that the amount of the settlement paralleled that of the scandal, in which Ahold overstated earnings by more than 1 billion euros in 1999-2002.

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Ahold to Pay Shareholders $1.1 Billion to Settle Civil Suits

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