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Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Danske Bank A/S Investors (DNKEY)

January 15, 2019

LOS ANGELES--(BUSINESS WIRE)--Jan 15, 2019--Glancy Prongay & Murray LLP (“GPM”), a global investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired 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.

If you are a shareholder who suffered a loss, click  here to participate.

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.

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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. 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190115005964/en/

CONTACT: Glancy Prongay and Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay and Murray LLP

Copyright Business Wire 2019.

PUB: 01/15/2019 06:21 PM/DISC: 01/15/2019 06:21 PM

http://www.businesswire.com/news/home/20190115005964/en

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