On or around 05/04/2018 (Other)
Filing Date: May 10, 2016
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period issued false and misleading statements to investors and/or failed to disclose that: (1) Deutsche Bank has serious and systemic failings in its controls against financing terrorism, money laundering, aiding against international sanctions, and committing financial crimes; (2) Deutsche Bank’s internal control over financial reporting and its disclosure controls and procedures were not effective; and (3) as a result of the foregoing, defendants’ statements about Deutsche Bank’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
On October 4, 2016, the court issued an Order appointing lead plaintiff and counsel. Lead Plaintiff filed a consolidated complaint on December 16.
On June 28, 2017, the Court issued an Order granting Defendant's Motions to dismiss and closing this case. Plaintiffs filed a Notice appealing the dismissal on August 17. On May 4, 2018, the Court of Appeals affirmed the decision of the District Court.
Company & Securities Information
Defendant: Deutsche Bank AG
Industry: Money Center Banks
Ticker Symbol: DB
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.