Danske Bank Case Update (July 2020): Deadline Approaching for ISAF Management/Pomerantz/Lieff/TILP Action
| Settling Defendant | Settlement Amount |
|---|---|
| Barclays | Barclays agreed to provide substantial cooperation, in lieu of any cash payment, to assist Plaintiffs in connection with the pursuit of their claims against all of the other Defendants |
| Bank of America | $5,000,000 |
| Citi | $7,025,000 |
| HSBC | $4,750,000 |
| J.P. Morgan | $5,000,000 |
| Total | $21,775,000 |
Last year, we spotlighted the Danske Bank opt-in recovery opportunity for investors brought forward by six competing organizers proposing actions – click here for the case spotlight.
- Grant & Eisenhofer/DRRT
- Burford Capital/Stewarts Law
- Innsworth
- Deminor
- ISAF Management/Pomerantz/Lieff/TILP
- IMF Bentham/Quinn Emanuel
Recovery efforts have been fluid with the six organizers and all of the organizers have substantial experience successfully prosecuting high-profile global securities matters. However, unlike other matters, the organizer offerings differ significantly in ways that make choosing among them difficult including relevant time periods, registration deadlines, and proposed retention terms.
UPDATE
For the action involving ISAF Management/Pomerantz/Lieff/TILP, there is an upcoming participation deadline of September 1, 2020.
This recovery effort involves a consortium of two leading US securities law firms (Pomerantz and Lieff), a German law firm (TILP) specializing in investor recovery, a Dutch litigation firm (Lemstra), a global organizer and funder (ISAF), and a local Danish counsel (Nemeth).
NEXT STEPS
If you wish to evaluate action against Danske Bank, please contact your FRT Representative or email us to arrange a call with the FRT team to discuss your losses and other criteria you may want to consider in selecting an organizer.
Learn More
To learn more about how FRT can help your firm identify and monitor global opt-in securities litigation opportunities, visit our website.
- [Webinar] Understanding Shareholder Loss Estimates in Non-U.S. Jurisdictions
- [Report] Jurisdiction Profile: Germany
- [Blog] 5 Ways Loss Estimation Comes Into Play in Non-U.S. Securities Litigation
- [Blog] Case Spotlight: Danske Bank – Six Competing Organizers
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