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SAN FRANCISCO, Sept. 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 ADRs between August 30, 2013 and September 6, 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 July 12, 2018, MarketWatch reported Danske’s head of compliance resigned and the Company reportedly admitted its anti- money-laundering internal controls were insufficient.
On July 18, 2018, Danske stated it will forgo profits made from suspicious transactions in Estonia, driving the price of Danske ADRs down $1.43, or over 9%, to close at $13.81 that day.
Reuters reported on September 4, 2018 that the Company handled up to $30 billion of Russian and ex-Soviet money via its Estonian branch in 2013 alone, driving the price of Danske ADRs down almost 6.5% to close at $13.73 that day.
Today, the Wall Street Journal reported $150 billion that flowed through its Estonian outpost are being studied, driving the price of Danske ADRs down as much as 5.8% during intraday trading.
“We’re focused on investors’ losses, Danske’s admitted insufficient controls, the compliance officer’s resignation, 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.
Reed Kathrein, 510-725-3000