Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Danske Bank A/S (DNKEY)
BENSALEM, Pa.--(BUSINESS WIRE)--Jan 18, 2019--Law Offices of Howard G. Smith reminds investors of the March 8, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Danske Bank A/S (“Danske” or the “Company”) (OTC: DNKEY ) American Depositary Receipts (“ADRs”) during the period between January 9, 2014 and October 23, 2018 (the “Class Period”). Danske investors have until March 8, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Danske investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On October 24, 2018, the Wall Street Journal reported that the U.S. Department of Justice, Treasury Department, and the SEC were investigating Danske’s small Estonian branch for allegedly processing nearly $234 billion from 2007 through 2015 from foreign countries, and that the Company’s CEO had resigned. The Wall Street Journal also claimed that Danske’s management was informed that the Estonian branch could not isolate the issue and “therefore acts against [anti-money-laundering] legislator principles.” On this news, Danske ADRs’ and U.S. bonds’ value fell, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) Danske Bank’s Estonian branch was facilitating money laundering through at least March 2016; (2) that a whistleblower had reported the Estonian money laundering to the Company in 2013; (3) that Denmark’s Financial Supervisory Authority (the “DFSA”) had been investigating the Estonian money laundering since 2014; (4) that Danske Bank had concealed the results of its own internal investigation from the DFSA, further exposing it to regulatory action and fines; (5) that Danske Bank had been overstating its historical profits by including the profits derived from its illicit Estonian operations; and (6) that Danske Bank lacked effective internal and reporting controls.
If you purchased shares of Danske during the Class Period you may move the Court no later than March 8, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190118005535/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2019.
PUB: 01/18/2019 05:12 PM/DISC: 01/18/2019 05:12 PM