Hagens Berman Updates Investors in Danske Bank A/S (DNKEY) Concerning the Firm's Ongoing Investigation of Possible Disclosure Violations and Danish Regulator's Recent Rejection of New Chief Executive Candidate
SAN FRANCISCO, Oct. 18, 2018 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP updates investors in Danske Bank A/S (DNKEY) concerning the firm's investigation into possible disclosure violations. If you purchased or otherwise acquired Danske Bank U.S. – issued securities between September 18, 2013 and September 21, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/DNKEY
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
Danske acknowledged that "major deficiencies in controls and governance […] made it possible to use Danske Bank's branch in Estonia for criminal activities such as money laundering."
Law enforcement authorities want to know why Danske's tiny branch processed billions of dollars during 2007 through 2015 from foreign countries, mainly Russia.
The Company's CEO resigned amid reports that potentially suspicious transactions, valued at about $234 billion, were funneled through Estonia.
Most recently, on October 17, 2018, The Wall Street Journal reported Danske's search for a new chief executive will continue, after the Danish Financial Services Authority said the bank's proposed candidate lacked experience.
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.
Whistleblowers: Persons with non-public information regarding Danske Bank should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP
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