• Investors Can Toll the Dutch Statute of Limitations with a Simple Letter
  • July 24, 2014
  • Law Firm: Bernstein Litowitz Berger Grossmann LLP - New York Office
  • In the early 2000s, a massive accounting scandal at Dutch international supermarket chain Royal Ahold N.V. (“Ahold”) shocked the global investment community and resulted in criminal and civil charges being filed in the Netherlands and the U.S. Almost a decade later, a Dutch shareholder association called Vereniging van Effectenbezitters (the “VEB”) filed a declaratory judgment action against Deloitte & Touche LLP (“Deloitte”) for its role in the $800 million scheme to overstate Ahold’s reported income. Despite the lapse of time, the VEB did not want Deloitte to go unpunished for damaging Ahold’s investors.