BusinessCompany NewsAhold shareholders seeking £580m

Ahold shareholders seeking £580m

More than 173,000 claims received

A Dutch shareholder activist group is seeking a combined $1.1bn (£580m)
settlement from retailer Ahold following the 2003 accounting scandal.

The group, VEB, has so far received more than 173,000 claims from Ahold
shareholders after extending the sign-up deadline from 25 August to 15
September.

Ahold, the world’s fourth biggest food and services retailer nearly collapsed
in 2003 following an accounting scandal at its subsidiary business, US
Foodservice.

In May, Ahold’s former chief executive and chief financial officer were given
suspended jail terms over their role in the scandal.

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