Lieff Cabraser serves as part of an international coalition of American, Danish, German, and Dutch law firms proceeding in litigation against Danske Bank A/S seeking compensation for damaged shareholders after revelations of illegal money laundering, financial mismanagement and deficient regulatory disclosures.
The lawsuit will be filed in Copenhagen on behalf of shareholders who suffered investment losses upon significant drops in Danske Bank A/S share prices after various disclosures related to an estimated EUR 200 billion of illegal money transfer schemes involving non-resident Eastern European and Russian customers in the Bank’s Estonian Branch. Information about critical lapses in Danske Bank’s KYC (Know Your Customer) and anti-money laundering (AML) internal enforcement policies, and failure to act upon both internal and external warnings of non-compliance, have caused more than a 40% percent decline in Danske Bank stock prices. Investors have consequently lost billions.
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