NEW YORK, Feb. 26, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Danske Bank A/S (OTC: DNKEY) from January 9, 2014 through October 23, 2018, inclusive. The lawsuit seeks to recover damages for Danske investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than March 11, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go http://zhanginvestorlaw.com/join-action-form/?slug=danske-bank-a-s&id=1679 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Danske’s Estonian branch was facilitating money laundering through at least March 2016; (2) a whistleblower had reported the Estonian money laundering to Danske in 2013; (3) Denmark’s Financial Supervisory Authority (the “DFSA”) had been investigating the Estonian money laundering since 2014; (4) Danske had concealed the results of its own internal investigation from the DFSA, further exposing Danske to regulatory action and fines; (5) Danske had been overstating its historical profits by including the profits derived from its illicit Estonian operations; (6) Danske lacked effective internal and reporting controls; and (7) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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