Increasingly, securities litigation involves claims arising out of fraud and other misconduct that is international in scope. In 2003, Dutch grocery and foodservice conglomerate, Royal Ahold N.V., began to announce billions of dollars in restatements of revenue and earnings in connection with its operations around the world. The Public Employees’ Retirement Association of Colorado retained E&C to represent a global class of investors pursuing securities fraud claims against Royal Ahold and others. After three years of intense litigation which included proceedings in the Netherlands, E&C secured a $1.1 billion settlement on behalf of shareholders based throughout the world -- the largest class action recovery ever secured from a European issuer. Hundreds of thousands of shareholders from more than 100 countries received payments in the settlement of this case.