LOS ANGELES, Jan. 22, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Danske Bank A/S (“Danske” or ''the Company'') (OTC: DNKEY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's American Depositary Receipts (“ADRs”) between January 9, 2014 and October 23, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before March 11, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Danske’s branch in Estonia engaged in money laundering through at least March 2016. The company received a report on this activity from a whistleblower in 2013. The DFSA, Denmark’s Financial Supervisory Authority, began investigating the money laundering allegations in 2014. Danske concealed its own investigations from the DFSA, exposing it to fines and other regulatory actions. At the same time, the Company was overstating profits by including the gains of the money laundering scheme. All the while, Danske lacked effective internal and reporting controls. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about Danske, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
info@schallfirm.com
SOURCE:
The Schall Law Firm