Ahold's Shareholders Settle for a Billion

Ahold has reached a billion dollar settlement with shareholders bringing to an end a securities fraud class action lawsuit that had plauged the firm. The food retail behemoth behind your friendly neighborhood Giant and Stop & Rhop stores, Ahold had been facing accusations of securities fraud in relation to the company's announcement in 2003 that it had overstated profits by as much as $1billion. The settlement should work out to just about $1 per share for investors.

Details via Reuters.

-- MDT