International food retailer Royal Ahold will pay $1.1 billion to settle a shareholder lawsuit accusing the company of violating securities laws in 2001 and 2002.

The payments will amount to between $1 and $1.30 a share for investors who bought stock between July 1999 and February 2003, when the company announced accounting problems that required the restatement of its 2001 and 2002 fiscal years as well as its interim results for 2002. The errors led to $ 1.14 billion in profit overstatements.

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