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    QONEQT in Deutsche Bank

    24-Sep-2022 06:26 AM


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    Deutsche Bank in $26.3 million shareholder settlement over Epstein, Russian oligarch ties By Reuters

    The logo of Deutsche Bank is pictured on a company's office in London, Britain July 8, 2019.

    Shareholders led by Yun Wang, who traded Deutsche Bank (ETR: ) stock in 2018 and 2020, claimed that the bank had known its know-your-customer and anti-money laundering controls were ineffective, and that its share price fell as problems emerged.

    Chief Executive Christian Sewing and his predecessor John Cryan are also defendants, and also denied wrongdoing.
    Friday's settlement covers Deutsche Bank investors in the United States from March 14, 2017 to Sept. 18, 2020.
    Lawyers for the plaintiffs said the $26.25 million payout is 49.4% of the "likely recoverable" damages available, compared with a median 1.8% in settled securities class actions in 2021.

    The case is Karimi v Deutsche Bank AG et al, U.S. District Court, Southern District of New York, No.
    Source: Investing.com
    #DeutscheBank