Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against Danske Bank A/S and
March 11 Lead Plaintiff Deadline
Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is reminds
investors that a class action lawsuit has been filed against Danske Bank A/S (“Danske Bank” or the “Company”) (OTC:DNKEY) and other
defendants, related to alleged violations of federal securities laws. If you purchased Danske Bank American Depositary Receipts
(“ADRs”) between January 9, 2014 and October 23, 2018, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for
more information.
Danske Bank provides personal banking, business banking, corporate and institutional banking, and wealth management products and
services, along with mortgage finance, real-estate brokerage, foreign exchange and equity services, and trades in fixed income
products, including with customers who reside or are domiciled outside Denmark.
According to the lawsuit, defendants made false and misleading statements and/or failed to disclose adverse information
regarding Danske Bank’s business and operations. Specifically, defendants failed to disclose that: (i) Danske Bank’s Estonian
branch was facilitating money laundering through at least March 2016; (ii) a whistleblower had reported the Estonian money
laundering to the Company in 2013; (iii) Denmark’s Financial Supervisory Authority (the “DFSA”) had been investigating the Estonian
money laundering since 2014; (iv) Danske Bank had concealed the results of its own internal investigation from the DFSA, further
exposing it to regulatory action and fines; (v) Danske Bank had been overstating its historical profits by including the profits
derived from its illicit Estonian operations; and (vi) Danske Bank lacked effective internal and reporting controls.
On October 23, 2018, following news that began to come out in early September 2017, The Wall Street Journal published an
article disclosing the full extent of the information a whistleblower had alerted Danske Bank’s senior executives to back in 2013
and detailing how Danske Bank had tried to silence the whistleblower for years.
Upon the gradual revelation of the Company’s reliance on illicit profits and its resulting exposure to regulatory action, the
price of the Company’s ADRs plummeted a total of approximately 54%, from a high of $20.90 on February 16, 2018, to a low of $9.50
on October 23, 2018.
What You Can Do
If you purchased Danske Bank ADRs between January 9, 2014 and October 23, 2018, inclusive, or if you have questions about
this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at rswartz@scott-scott.com. The lead plaintiff deadline is March 11, 2019.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions
throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with
offices in New York, London, Connecticut, California, and Ohio.
Attorney Advertising
Rhiana Swartz
Scott+Scott Attorneys at Law LLP
230 Park Ave, 17th Floor, NY, NY 10169
(844) 818-6980
rswartz@scott-scott.com
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