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AMSTERDAM -- The U.S. District Court for the District of Maryland in Baltimore Friday granted preliminary approval of the $1.1 billion securities class action settlement agreed to in November by Royal Ahold management and shareholders.
According to a report in the Baltimore Sun, In the course of a 90-minute hearing, Judge Catherine C. Blake said: "I do believe this settlement...preliminarily is fair, adequate and reasonable. I think it falls well into the realm of possible final approval."
The court additionally granted certification of the settlement class. Final approval must come from the District Court for the District of Maryland, where a hearing is slated to be held in June.