Money laundering: Danske faces new investor lawsuit threat
23 Jan 2019

Litigation funder IMF Bentham (IMF.AX) has teamed up with legal experts Quinn Emanuel and Njord Law Firm and plans to file a shareholder lawsuit against Danske Bank (DANSKE.CO) by July over a 200 billion euro ($230 billion) money laundering scandal.

IMF’s European subsidiary, IMF Litigation Funding Services Limited (IMF LFS), on Tuesday alleged that Denmark’s largest lender breached the Danish Securities Trading Act and EU anti money laundering rules by failing to promptly inform large, institutional investors about the true scale of the crisis.

Around half a dozen groups have said they are gathering shareholders to sue Danske bank over a scandal that has already cost it its CEO and chairman, triggered a raft of criminal investigations.

– By Kirstin Ridley, Simon Jessop, Reuters, 22 January 2019.

Link to Reuters.

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