LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Deutsche Bank Aktiengesellschaft (“Deutsche Bank” or the “Company”) (NYSE: DB) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On May 13, 2020, media outlets reported that the Federal Reserve had criticized Deutsche Bank's U.S. operations in an internal audit. The audit reportedly found that Deutsche Bank had failed to address multiple concerns identified years earlier, including concerns related to the Bank's AML and other control procedures.
On this news, the Company’s share price fell $0.31 per share, or over 4%, to close 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 address its AML and other issues was reaffirmed when the New York State Department of Financial Services fined the Bank $150 million for neglecting to flag numerous questionable transactions from accounts associated with Jeffrey Epstein and two correspondent banks, Danske Estonia and FBME Bank, both of which were the subjects of prior scandals involving financial misconduct.
On this news, the Company’s share price fell $0.13 per share, or over 1%, to close at $9.82 per share on July 7, 2020.
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If you purchased Deutsche Bank securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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