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Monday, November 28, 2005

Ahold: No. 5

According to news reports, Ahold has agreed to settle the securities class action filed against it for $1.1 billion.  The SCAS database shows that when it becomes final, this will be the 5th largest settlement in history behind only Enron ($7,144,500,000), WorldCom ($6,156,100,670 ), Cendant ($3,186,500,000) and AOL Time Warner ($2,650,000,000).  Indeed, the total settlement amount in this case may still rise further, as the plaintiffs reportedly intend to pursue their claims against Ahold's former accountants, Deloitte & Touche, in the case.

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