NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Deutsche Bank AG (“Deutsche Bank” or the “Company”) (NYSE:DB) of the August 6, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Deutsche Bank stock or options between March 28, 2017 and April 13, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/DB. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Deutsche Bank securities between March 28, 2017 and April 13,. 2018 (the “Class Period”). The case, Zhao v. Deutsche Bank Aktiengesellschaft, et al., No. 18-cv-05104 was filed on June 7, 2018
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failed to disclose that: (1) Deutsche Bank's internal control environment and infrastructure were materially weak and deficient; and (2) as a result, Deutsche Bank's statements about the Company's business and operations were materially false and misleading at all relevant times.
Specifically, on May 31, 2018, the Wall Street Journal 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.
After the announcement, Deutsche Banks’s share price fell from $11.57 per share on May 30, 2018 to a closing price of $11.08 on May 31, 2018—a $0.49 or a 4.23% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Deutsche Bank’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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