NEW YORK, March 11, 2003 (PRIMEZONE) -- A class action complaint has been filed in the United States District Court for the Southern District of New York, case number 03 Civ. 1640, on behalf of all persons or entities who purchased Koninklijke Ahold, N.V. ("Ahold" or the "Company") securities (NYSE:AHO) during the period from March 6, 2001 through February 21, 2003, both dates inclusive (the "Class Period"). The Complaint names Ahold, Hendrikus de Ruiter, Cees H. van der Hoeven, Adriaan Michiel Meurs, James L. Miller, William John Grize, and Deloitte Touche Tohmatsu as defendants.
To discuss this action, this announcement, or your rights or interests, please contact plaintiff's counsel, Eric J. Belfi or Sharon Lee at Rabin, Murray & Frank LLP, 275 Madison Avenue, New York, NY 10016, by telephone at (800) 497-8076 or (212) 682-1818, by facsimile at (212) 682-1892, or by e-mail at email@rabinlaw.com.
The Complaint alleges that defendants violated the Securities Exchange Act of 1934 by making a series of materially false and misleading statements concerning the Company's financial results during the Class Period. In particular, it is alleged that during the Class Period the Company had overstated the earnings of its U.S. Foodservice unit by over $500 million and now has to restate its financial statements for 2001 and 2002. The Complaint alleges that as a result of these false and misleading statements the price of Ahold securities were artificially inflated throughout the Class Period causing plaintiff and the other members of the Class to suffer damages.
Plaintiff is represented by the law firm of Rabin, Murray & Frank LLP. Rabin, Murray & Frank LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States.
If you purchased Ahold securities during the Class Period described above, you may, no later than April 28, 2003, move the Court to serve as lead plaintiff. To serve as lead plaintiff, however, you must meet certain legal requirements. You can join this action as a lead plaintiff online at www.rabinlaw.com. Contact plaintiff's counsel Eric J. Belfi or Sharon Lee of Rabin, Murray & Frank LLP to further discuss this action, this announcement, or your rights or interests.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca