NEW YORK, Sept. 19, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating claims on behalf of investors of Danske Bank A/S American Depository Shares ("Danske" or the "Company") (OTC: DNKEY) (CUSIP: 236363206).
On September 18, 2018, the Wall Street Journal published an article titled "Danske Bank Knew of Russian Blacklist Clients in 2013" that stated Danske "officials at the center of one of Europe's largest money laundering scandals knew earlier than previously indicated about problems at its tiny Estonian branch, including that it held accounts for blacklisted Russian clients . . . It is the latest indication that officials at Danske Bank were aware almost two years before it started shutting questionable accounts that the small but highly profitable branch was involved in potentially illicit money flows."
Previously, on July 18, 2018, Dow Jones reported that Danske shares declined up to 11% after Danske said it will forfeit an estimated $235.3 million that it made from transactions in its now-closed Estonian nonresident portfolio. Dow Jones further reported that Danske is investigating potential money-laundering activities at the unit, and the Company disclosed that it will make the gross income generated from transactions in the unit between 2007 and 2015 "available for efforts that support the interest of the societies in which we operate, such as combating international financial crime." The announcement came as the Company disclosed that full-year net profit will be at the lower end of its previously guided range, and that the estimate excludes any financial effects from the Estonian probe.
On September 7, 2018, the Wall Street Journal reported that Danske "is investigating whether companies with ties to Russia used it to launder money, examining $150 billion in transactions that flowed through a tiny branch in Estonia, according to people familiar with the matter. The $150 billion figure, covering a period between 2007 and 2015, has been presented to the bank's board of directors and would equal to more than a year's worth of the corporate profits for the entire country of Russia at the time." Danske shares declined as much as 7% on this news.
If you are an investor in Danske ADSs and would like to discuss our investigation, please contact us by emailing email@example.com or by calling 800-290-1952.
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Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Jeffrey P. Campisi
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SOURCE Kaplan Fox & Kilsheimer LLP