NEW YORK, March 01, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group reminds shareholders who purchased shares of Danske Bank A/S (OTC: DNKEY) from January 9, 2014 through October 23, 2018, inclusive (the “Class Period”) of the important March 11, 2019 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Danske investors under the federal securities laws.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 11, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/danske-bank-a-s/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar, Esq. of Pawar Law Group toll free at 888-589-9804 or via e-mail at info@pawarlawgroup.com.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Danske’s Estonian branch was facilitating money laundering through at least March 2016; (2) a whistleblower had reported the Estonian money laundering to Danske in 2013; (3) Denmark’s Financial Supervisory Authority (the “DFSA”) had been investigating the Estonian money laundering since 2014; (4) Danske had concealed the results of its own internal investigation from the DFSA, further exposing Danske to regulatory action and fines; (5) Danske had been overstating its historical profits by including the profits derived from its illicit Estonian operations; (6) Danske lacked effective internal and reporting controls; and (7) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com