Recent Securities Litigations

Deutsche Bank AG Common Stock (NYSE: DB)

Company Name:Deutsche Bank AG Common Stock
Stock Symbol:NYSE: DB
Class Period Start:03/14/2017
Class Period End (inclusive):05/12/2020

According to the Complaint, Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, corporate entities, and institutional clients worldwide.

The Complaint alleges that Deutsche Bank has been the subject of scandal, investigation and regulatory enforcement for years because of anti-money laundering (“AML”) compliance failures and deficiencies in its disclosure controls and procedures and internal control over financial reporting, causing it to have one of the lowest gradings offered by the U.S. Federal Reserve. Throughout the Class Period, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Deutsche Bank had failed to remediate deficiencies related to AML, its disclosure controls, procedures, and internal control over financial reporting, and its U.S. operations’ troubled condition; (ii) as a result, the Bank failed to properly monitor customers that the Bank itself deemed to be high risk, including, among others, the convicted sex offender Jeffrey Epstein and two correspondent banks, Danske Estonia and FBME Bank, which were both the subjects of prior scandals involving financial misconduct; (iii) the foregoing, once revealed, was foreseeably likely to have a material negative impact on the Bank’s financial results and reputation; and (iv) as a result, the Bank’s public statements were materially false and misleading at all relevant times.