GlobeNewswire Inc | Aug 28, 2020 01:00PM EDT

August 28, 2020

NEW YORK, Aug. 28, 2020 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Deutsche Bank Aktiengesellschaft ("Deutsche Bank" or the "Bank") (NYSE: DB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Deutsche Bank securities between November 7, 2017, andJuly 6, 2020,both dates inclusive (the Class Period).Such investors are encouraged to join this case by visiting the firms site: www.bgandg.com/db.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that:(1) Deutsche Bank had failed to remediate deficiencies related to AML, its disclosure controls, procedures, and internal control over financial reporting, and its U.S. operations' troubled condition; (2) as a result, the Bank failed to properly monitor customers that the Bank itself deemed to be high risk, including, among others, the convicted sex offenderJeffrey Epstein("Epstein") and two correspondent banks, Danske Estonia and FBME Bank, which were both the subjects of prior scandals involving financial misconduct; (3) the foregoing, once revealed, was foreseeably likely to have a material negative impact on the Bank's financial results and reputation; and (4) as a result, the Bank's public statements were materially false and misleading at all relevant times.

OnMay 13, 2020, media outlets reported that the Federal Reserve had sharply criticized Deutsche Bank's U.S. operations in an internal audit. The audit reportedly found that Deutsche Bank had failed to address multiple concerns identified years earlier, including concerns related to the Bank's AML and other control procedures. Following this news, the value of Deutsche Bank's ordinary shares fell$0.31per share, or 4.49%, to close at$6.60per share onMay 13, 2020.

Then, onJuly 7, 2020, the Federal Reserve's criticism of Deutsche Bank's failure to address its AML and other issues was reaffirmed when theNew York StateDepartment of Financial Services fined the Bank$150 millionfor neglecting to flag numerous questionable transactions from accounts associated with Epstein and with two correspondent banks, Danske Estonia and FBME Bank, both of which were the subjects of prior scandals involving financial misconduct. Following this news, the value of Deutsche Bank's ordinary shares fell$0.13per share, or 1.31%, to close at$9.82per share onJuly 7, 2020.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firms site: www.bgandg.com/db or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Deutsche Bank you have until September 14, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firms expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com