NEW YORK, NY / ACCESSWIRE / May 4, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Deutsche Bank Aktiengesellschaft ("Deutsche Bank" or the "Company") (NYSE:DB). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Deutsche Bank and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 26, 2024, Deutsche Bank issued a press release announcing that "[i]n a hearing on April 26, 2024, the Higher Regional Court of Cologne assessed the claims of certain former Postbank shareholders that a higher offer price in connection with Deutsche Bank's voluntary takeover offer of October 7, 2010, should have been paid. During the hearing, the Court indicated that it may find elements of these claims valid in a later ruling." Accordingly, Deutsche Bank advised that "the court's statements will impact Deutsche Bank's estimation of the probability of a future outflow, resulting in a legal provision in the second quarter of 2024. This provision will impact Deutsche Bank's second quarter and full-year profitability and capital ratios. The estimate of the full amount of all claims, including cumulative interest, is approximately 1.3 billion euros."
On this news, Deutsche Bank's stock price fell $1.53 per share, or 8.61%, to close at $16.24 per share on April 29, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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