World News: 19:51 GMT Friday 14th September 2018. [Hagens Berman Sobol Shapiro LLP via Globe Newswire via SPi World News]
SAN FRANCISCO, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP updates investors in Danske Bank A/S () concerning the firm’s investigation into possible disclosure violations. If you purchased or otherwise acquired Danske Bank ADRs 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 or emailing
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.
When reported on September 4, 2018 that Danske handled up to $30 billion of Russian and ex-Soviet money via its Estonian branch in 2013 alone, the price of Danske ADRs fell about 6.5% to close at $13.73.
When the reported $150 billion that flowed through its Estonian outpost are being studied, Danske ADRs traded down over 5% to close at $13.65 on September 7, 2018.
Today, the reported the U.S. Justice Department, Treasury, and SEC are investigating the bank. The price of Danske ADRs fell as much as 3%.
“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.
Contact:Reed Kathrein, 510-725-3000
Globe Newswire: 19:51 GMT Friday 14th September 2018
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