- 2014 Retail Store of the Year: And the winners are …
- Wal-Mart doubles small-store expansion amid weak sales and lowered outlook
- How Technology Has Revolutionized Sales Tax Management
- Private equity firms acquire The Coffee Bean & Tea Leaf
- NRF forecasts 4.1% rise in retail sales for 2014; online to grow 9% to 12%
Amsterdam, Netherlands, Royal Ahold NV shareholders who got hit by the food giant's accounting scandal in 2003 are taking accountancy firm Deloitte to court in a damages claim that could reach hundreds of millions of euros, the shareholders said as a group in a press release. Deloitte was Ahold's accountant when the scandal hit.
The shareholders are also putting a claim against former Ahold CEO Cees van Hoeven.
SOBI, an independent Dutch association that acts as financial markets watchdog, said the current claim comes after a very disappointing end to a previous one by the shareholders.
These shareholders then approached SOBI's Pieter Lakeman to help prepare another round of claims, and he has agreed.
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.