Danske Bank A/S (DNKEY)

DEFENDANT NAME: Danske Bank A/S
STOCK SYMBOL: OTC PINK: DNKEY
CASE NUMBER:
CASE NAME:
COURT:
PRACTICE AREA: Investor Fraud
STATUS: Investigation
CLASS PERIOD:
LEAD PLAINTIFF DEADLINE:
DATE FILED:
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:
510-725-3000 DNKEY@hbsslaw.com

Hagens Berman Sobol Shapiro LLP updates investors in Danske Bank A/S (OTC PINK: DNKEY) to the firm's investigation into possible disclosure violations.

If you purchased or otherwise acquired Danske Bank ADRs between September 18, 2013 and September 18, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing DNKEY@hbsslaw.com.

On November 6, 2018, Reuters reported that Danske Bank’s largest shareholder, the Maersk family, ousted the Company’s Chairman after a money laundering scandal previously forced out its CEO.

The U.S. Department of Justice, Treasury Department, and the SEC, reportedly want to know why Danske’s tiny Estonian branch processed billions of dollars during 2007 through 2015 from foreign countries, mainly Russia.

The scandal involves about $230 billion in transactions, many of which Danske Bank said it regards as suspicious.  The reported criminal investigations in the United States, Denmark and Estonia could lead to sizeable fines against the Company.

In response, the prices of Danske ADRs and U.S. bond issuances have steeply fallen this year.

“We’re focused on investors’ losses, Danske’s admitted insufficient controls, senior executives’ departures, senior management’s reported knowledge, and the extent to which the Company may have reported illegally earned profits in several years’ of financial reports,” said Hagens Berman partner Reed Kathrein.


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07/25/18: Investigation