Swedbank AB (Other OTC: SWDBY)
Hagens Berman Sobol Shapiro LLP alerts investors in Swedbank AB (Other OTC: SWDBY) to the firm's investigation into possible securities law violations.
If you purchased or otherwise acquired securities of SWDBY before March 28, 2019 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 SWDBY@hbsslaw.com.
Beginning in February 2019, the press began reporting on the Swedish and Estonian financial watchdogs’ joint investigation following a report linking Swedbank to a Baltic money laundering scandal involving Danske Bank.
Since then, the scandal has deepened. The New York Department of Financial Services reportedly opened an investigation and, on March 28, 2019, Bloomberg reported Swedbank fired its CEO over the money laundering allegations.
By March 28, 2019, the price of SWDBY has fallen over 30%.
“We’re focused on investors’ losses, money laundering events as they unfold, and the extent to which investors may have been misled,” said Hagens Berman partner Reed Kathrein.
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