PR Newswire | Sep 22, 2020 12:58PM EDT

Banks, Including Deutsche Bank

09/22 11:57 CDT

Investor Alert: Kaplan Fox Investigates Alleged Money Laundering At Global Banks, Including Deutsche Bank NEW YORK, Sept. 22, 2020

NEW YORK, Sept. 22, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Deutsche Bank AG ("Deutsche Bank" or the "Company") (NYSE: DB).

On Sunday, September 20, 2020, BuzzFeed News reported that "secret U.S. government documents reveal that...[a number of big banks, including Deutsche Bank] have defied money laundering crackdowns by moving staggering sums of illicit cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world." Further according to BuzzFeed News, the records show that five global banks, including Deutsche Bank, "kept profiting from powerful and dangerous players even after U.S. authorities fined these financial institutions for earlier failures to stem flows of dirty money."

Reportedly, Deutsche Bank's top leaders were warned multiple times about serious compliance failures that exposed the bank to money launderers. According to BuzzFeed News, the supervisory board and committees that included Chairman Paul Achleitner were informed in 2013 and 2014 of anti-money laundering problems on at least three occasions. Presentations at the time showed how the bank was struggling to vet its clients and facing technology as well as staffing issues for its compliance team, wrote.

On September 21, 2020, Deutsche Bank's shares fell $0.75 per share, 8.25%, to close at $8.34 per share on unusually heavy trading volume.

If you purchased Deutsche Bank shares and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:

Frederic S. FoxKAPLAN FOX & KILSHEIMER LLP850 Third Avenue, 14th FloorNew York, New York 10022(646) 315-9003E-mail: ffox@kaplanfox.com

Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704Fax: (415) 772-4707E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP