Plaintiff's law firm filed a press release announcing the lawsuit on June 7, 2018. According to the press release, Deutsche Bank is a global financial service provider delivering commercial, investment, private, and retail banking. The Bank offers debt, foreign exchange, derivatives, commodities, money markets, repo and securitization, cash equities, research, equity prime services, loans, convertibles, advice on M&A and IPO's, trade finance, retail banking, asset management, and corporate investments.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Deutsche Bank’s internal control environment and infrastructure were materially weak and deficient; and (ii) as a result, Deutsche Bank’s statements about the Company’s business and operations were materially false and misleading at all relevant times.
On November 27, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on January 25, 2019. On February 26, Defendants filed a Motion to Dismiss the amended Complaint. The Court issued an Order granting Defendants' Motion to Dismiss on September 30, dismissing the case with prejudice.