LOS ANGELES–(BUSINESS WIRE) – Frank R. Cruz's law firm announces, on behalf of the investors of Deutsche Bank Aktiengesellschaft ("Deutsche Bank" or the "Company") (NYSE: DB), an investigation into possible violations by the Company and its officers against the Federal Securities Act.
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On May 13, 2020, media reported that the Federal Reserve had criticized Deutsche Bank's US operations in an internal audit. The review reportedly found that Deutsche Bank had failed to address concerns identified several years ago, including concerns regarding the bank's money laundering and other control procedures.
In the news, the company's share price fell $ 0.31 per share or more than 4%, closing at $ 6.60 per share on May 13, 2020.
Then, on July 7, 2020, the Federal Reserve's criticism of Deutsche Bank's failure to solve its money laundering and other problems was reaffirmed when the New York State Treasury Department fined the bank $ 150 million for failing to flag numerous questionable transactions on accounts related to Jeffrey Epstein and two correspondent banks, Danske Estonia and FBME Bank, were both subject to previous financial misconduct scandals.
In the news, the company's share price fell $ 0.13 per share or more than 1% and closed at $ 9.82 per share on July 7, 2020.
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If you have purchased Deutsche Bank securities, have information or would like to learn more about these claims, or have questions about this announcement or your rights or interests in relation to these matters, please contact Frank R. Cruz of The Law Offices of Frank R. Cruz, Avenue of the Stars 1999, Suite 1100, Los Angeles, California 90067, 310-914-5007, by email to firstname.lastname@example.org or visit our website at www.frankcruzlaw.com. If you inquire by email, please provide your mailing address, telephone number and number of shares purchased.
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