NEW YORK–(BUSINESS WIRE)–Wolf Popper LLP is investigating potential securities fraud claims on
behalf of purchasers of Swedbank AB (OTC: SWDBY, SWDBF) American
Depositary Receipts from February 3, 2015 through February 19, 2019.
On February 20, 2019, The Wall Street Journal reported that,
according to Swedish television, Swedbank had engaged in suspicious
conduct suggestive of money laundering. Subsequently, on March 22, 2019,
it was reported that Swedbank’s anti-money laundering compliance head
had resigned. On March 27, 2018, the Swedish Economic Crime Authority
raided Swedbank’s headquarters. On March 28, 2019, Swedbank’s President
and CEO, Birgitte Bonnesen, was fired. On April 25, 2019, Swedbank
admitted to “shortcomings in [its] anti-money laundering compliance” and
announced it was cooperating with investigating authorities, including
those in Sweden and the U.S.
As a result of this news, Swedbank’s ADRs have fallen over $6.50 per ADR
since February 19, 2019 or by almost 35%.
Swedbank investors should contact Joshua Ruthizer at (212) 759-4600 or
(877) 370-7703 or at [email protected].
Wolf Popper has successfully recovered billions of dollars for defrauded
investors. The firm’s reputation and expertise have been repeatedly
recognized by the courts, which have appointed the firm to major
positions in securities litigation. For further information, please
visit www.wolfpopper.com.
Attorney Advertising: Prior Results Do Not Guarantee A Similar Outcome.
Contacts
Wolf Popper LLP
Joshua W. Ruthizer
845 Third Avenue
New
York, NY 10022
Tel.: (212) 759-4600
Tel.: (877) 370-7703
Fax:
(877) 370-7704
Email: [email protected]
