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| | Royal Ahold overstates earnings by $500 million |
 | | Royal Ahold NV, the Netherlands-based supermarket and foodservice operator with major holdings in the United States, disclosed Feb 24, 2003, that operating earnings for fiscal year 2001 and expected operating earnings for fiscal year 2002 were overstated by an amount that the company believes may exceed $500 million. |
 | | In response to the disclosure of Ahold’s true financial condition, its American Depository Receipts (ADRs) plummeted from a Feb 21, 2003, close of $10.69 to as low as $3.60 per ADR when trading resumed Feb 24, 2003. |
 | | The law firm of Berger & Montague PC filed a class action lawsuit Feb 25, 2003, against Royal Ahold and certain of its officers, in the United States District Court for the Eastern District of Virginia on behalf of all who purchased Ahold ADRs from Jan 8, 2002 through Feb 21, 2003. |
| refrigeratedtrans.com /news/transportation_royal_ahold_overstates (253 words) |
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