PracticeAccounting FirmsDeloitte faces huge Ahold claim

Deloitte faces huge Ahold claim

Ahold shareholders hit by the food giant’s accounting scandal in 2003 are suing Deloitte for hundreds of millions of euros in damages

ahold

Deloitte,
which was Ahold’s
accountants when its accounting scandal struck in 2003, could be facing a
damages suit worth hundreds of millions of euros, Ahold shareholders said this
week.

The shareholders are also putting a claim against Cues van Heaven, former
Ahold chief executive.

SOBI, a Dutch independent financial markets watchdog, said the current claim
comes after a previous damages claim by the shareholders failed.

SOBI’s Pieter Lakeman has agreed to prepare another round of claims after
shareholders approached him for assistance.

In March, the Dutch disciplinary council for registered accountants ruled
Deloitte ‘seriously failed’ in its supervision of Ahold’s US Foodservice. The
Netherlands’ Royal Institute for Registered Accountants confirmed the ruling.

Further reading:

Ahold CFO steps into top spot

Ex-Ahold exec gets seven years for role in fraud

Read
the story in Forbes

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