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

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Company Name(s): 
Deutsche Bank
Case Name: 
Deutsche Bank Shareholder Class Action Lawsuit 06/07/2018
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: DB
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
06/07/2018
Class Period Begin: 
03/20/2017
Class Period End: 
05/30/2018
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
08/06/2018
Summary: 

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.