Innsworth funds shareholder litigation and anti-trust litigation. We also fund commercial litigation and arbitration claims.

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Proposed Shareholder Action Against Danske Bank A/S

Dear All
 
Innsworth is investigating claims against Danske Bank A/S (“Danske Bank”) on behalf of shareholders who have acquired shares in the indicative period 1 January 2007 to date.
 
Founded in 1871 Danske Bank, a major European retail bank, is the largest bank in Denmark and is traded on the Nasdaq Copenhagen under ticker “DANSKE”.
 
The claims relate to allegations of money laundering by customers through Danske Bank’s Estonian branch.  The branch is reported to have accounted for as much as 10% of group profit during the period over which the alleged money laundering is reported to have taken place, from 2007 to 2015.
 
Danske Bank has previously acknowledged that there were “major deficiencies in controls and governance that made it possible to use Danske Bank’s branch in Estonia for criminal activities such as money laundering”.  However, Danske Bank’s CEO Thomas Borgen resigned on Wednesday 19 September 2018 after an investigation reportedly commissioned by the bank exposed past control and compliance failings.  Danske Bank reportedly faces criminal inquiries in Denmark and Estonia.
 
Since March 2018, Danske Bank’s share price has fallen 31.36% from DKK 247.70 to DKK 170.10 on Friday 22 September 2018.
 
For further information, shareholders who have acquired, held or disposed of shares since 1 January 2007 to date should contact Innsworth at danske@innsworth.com.  Danske Bank’s ISIN is DK0010274414.

Documents

Danske Bank FAQs