NOTABLE CASES

Danske Bank Facing Litigation over €200 Billion Money Laundering Scandal

UPDATED JAN 29, 2019

CASE SUMMARY

Danske Bank was founded nearly 150 years ago and is currently the largest financial institution in Denmark with operations in sixteen countries. In September 2018, after years of denials and deliberate inaction by its senior leadership, Danske finally acknowledged its role in the largest money laundering scandal in European history, involving over €200 billion (US$233 billion) of largely suspicious transactions between 2007 and 2016 emanating from Danske’s small outpost in the former Soviet Republic of Estonia.

By October 5, 2018, Danske’s shares had dropped to a four-year low following an announcement that the U.S. Department of Justice had initiated a criminal investigation. Since the initial disclosures of Danske’s misconduct, Danske’s share price has declined from approximately 250 DKK in February 2018 to 136.80 DKK as of November 16, 2018, a decline of over 45%. Danske is currently facing multiple criminal and regulatory investigations in Denmark, France, the United Kington, the United States and Estonia.

LEGAL ACTIONS

There are currently six cases being pursued against Danske Bank, including:

Law Firm Funder Registration Deadline*
Elmann Advokatpartnerselskab Deminor Recovery Services February 15, 2019
Grant & Eisenhofer Grant & Eisenhofer | DRRT February 1, 2019
Innsworth Advisors Limited Innsworth (Self-Funded) January 1, 2019
Lund Elmer Sandager Burford Capital March 31, 2019
Nemeth Sigetty | Pomerantz  | Leiff Cabraser ISAF March 31, 2019
Quinn Emanuel | NJORD Law IMF Bentham March 18, 2019

*Registration deadline dates subject to change – check with SCAS and / or the Law Firm for confirmation

danske_bank_logo

CLASS PERIOD ELIGIBILITY

Varies by case; SCAS clients can obtain specific details within the RecoverMax online platform.

ELIGIBLE SECURITY ID’S

Varies by case; SCAS clients can obtain specific details within the RecoverMax online platform.

ADDITIONAL CASE INFORMATION
(Public News Sites)

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