Hagens Berman Updates Danske Bank A/S (DNKEY) ADR Investors Concerning Securities Fraud Investigation and Chairman’s Ouster
SAN FRANCISCO, Nov. 07, 2018 (GLOBE NEWSWIRE) -- 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:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On November 6, 2018, Reuters reported that Danske Bank’s largest shareholder, the Maersk family, ousted the Company’s Chairman after a money laundering scandal previously forced out its CEO.
The U.S. Department of Justice, Treasury Department, and the SEC, reportedly want to know why Danske’s tiny Estonian branch processed billions of dollars during 2007 through 2015 from foreign countries, mainly Russia.
The scandal involves about $230 billion in transactions, many of which Danske Bank said it regards as suspicious. The reported criminal investigations in the United States, Denmark and Estonia could lead to sizeable fines against the Company.
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 DNKEY@hbsslaw.com.
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