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Deutsche Bank Aktiengesellschaft (NYSE: DB) Investor Securities Class Action Lawsuit 06/07/2018

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Lawsuit Overview

Case Dismissed
Company
Deutsche Bank
Security
NYSE: DB

Case Name
Deutsche Bank Shareholder Class Action Lawsuit 06/07/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

September 30, 2019 - The case was dismissed with prejudice.

February 26, 2019 - A motion to dismiss the amended complaint was filed.

January 25, 2019 - An amended complaint was filed.

June 7, 2018 - An investor in shares of Deutsche Bank Aktiengesellschaft (NYSE: DB) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Deutsche Bank Aktiengesellschaft in connection with certain allegedly false and misleading statements made between March 20, 2017 and May 30, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Deutsche Bank Aktiengesellschaft (NYSE: DB) common shares between March 20, 2017 and May 30, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between March 20, 2017 and May 30, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Deutsche Bank Aktiengesellschaft’s internal control environment and infrastructure were materially weak and deficient, and that as a result, Deutsche Bank Aktiengesellschaft’s statements about the Company’s business and operations were materially false and misleading at all relevant times.

Germany based Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, corporate entities, and institutional clients worldwide. Deutsche Bank Aktiengesellschaft reported that its annual Total Revenue rose from over 43.18 billion EUR in 2016 to over 45.82 billion EUR in 2017 and that its Net Loss declined from over 1.47 billion EUR to 902 million EUR.

On May 31, 2018, it was reported that the U.S. Federal Reserve has designated Deutsche Bank’s U.S. business to be in “troubled condition,” citing concerns “about its controls around measuring financial exposure to clients and valuing collateral that backed loans.” The article further reported that the Federal Deposit Insurance Corporation has added Deutsche Bank’s subsidiary Deutsche Bank Trust Company Americas to its “problem banks” list of at-risk institutions.