Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Swedbank AB SWDBY.
On February 20, 2019, a Swedish television investigative program reported that it had uncovered documents linking the Company to a money laundering scandal with Denmark's Danske Bank involving 40 billion kronor ($4.3 billion) in suspicious transfers between 2007 and 2015. The next day, financial regulators from Sweden and Estonia announced a joint investigation into the matter. Then, on March 28, 2019, the Company announced that its President and CEO, Birgitte Bonnesen, had been dismissed from the Company.
On this news, the price of Swedbank's ADR's has plummeted by almost 30% since February 19, 2019.
KSF's investigation is focusing on whether Swedbank and/or its officers and directors violated state or federal securities laws.
If you are a Swedbank shareholder and have suffered losses, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/otc-swdby/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190329005549/en/
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