NEW YORK, July 22, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Deutsch Bank AG ("Deutsch Bank" or the "Company") (NYSE: DB). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Deutsch Bank and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 22, 2014, the Wall Street Journal news service published contents of a December 11, 2013 letter from the Federal Reserve Bank of New York to Deutsche Bank finding that the bank's U.S. operations suffer from a litany of serious problems, including shoddy financial reporting, inadequate auditing and oversight and weak technology systems. The letter, which was not previously reported, ordered senior Deutsche Bank executives to ensure steps were taken to remedy the problems. It also said the bank might have to restate some of the financial data it has submitted to regulators.
On this news, shares of Deutsch Bank fell $1.05 per share to $34.80, or more than 2.93%, in intraday trading on July 22, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP