The global shareholder class action landscape continues to grow and evolve with more emphasis on shareholder litigation around the world. Investors should not only be aware of cases in their own jurisdiction, but also the larger global cases that may also impact them.
Here are five global opt-in litigation with upcoming participation deadlines to keep on your radar:
1. Credit Suisse (Switzerland) – June 28, 2019
Credit Suisse Group AG (“Credit Suisse”), a Switzerland-based multinational financial services firm, is facing allegations for material misstatements and inaccurate financial information in connection with Credit Suisse’s November 19, 2015 Authorised Capital Increase and the prospectus issued in connection therewith. All shareholders who wish to have Schwärzler Rechtsanwälte pursue claims on their behalf against Credit Suisse are asked to sign participation documents to join the action by no later than June 28, 2019.
2. Daimler AG (Germany) – Multiple organizers with various upcoming deadlines in June and July
Daimler AG, a German multinational automotive corporation, is facing allegations that it violated its obligations under the German Securities Trading Act (WpHG) by failing to disclose the use of “illegal defeat device” software installed in its vehicles to temporarily lower nitrous oxide levels emitted during emissions tests. Two groups of organizers are planning recovery efforts against Daimler for related shareholder losses with upcoming deadlines in June and July.
3. Fortis (Dutch Foundation) – July 28, 2019
In March 2016, Fortis and several shareholder organizations reached a collective settlement providing €1.204 billion (roughly $1.3 billion) to harmed investors. The Fortis settlement represents the largest ever under Dutch collective settlement procedures, which is why it has garnered such significant press coverage. The settlement relates to Fortis’s unsuccessful participation in the ABN AMRO acquisition prior to the 2008 financial crisis. To take part in the EUR 1.3 billion settlement, shareholders must file a claim form with supporting documentation with the claim administrator no later than July 28, 2019.
4. Danske (Denmark) – Multiple organizers with various upcoming deadlines in June, July and August
Actions are planned against Danske Bank for shareholder losses resulting from a massive $234 billion money laundering scheme. On September 19, 2018, after years of denials, Danske issued the report of an internal investigation outlining how more than $200 billion of nonresident money flowed through its Estonian branch between 2007 and 2015. There are six competing organizers who have identified nearly $9 billion in investor losses with participation deadlines in June, July and August.
5. Vocus Group Limited (Australia) – August 12, 2019
Vocus Group Ltd., (“Vocus”), an Australian telecommunications company that provides a wide array of targeted services through its telecommunications infrastructure platform, is facing allegations for downgrading its FY2017 profit guidance, causing a 27% drop in its share price and decreasing its value by nearly $561 million. If you wish to benefit from any potential settlement in this matter, you must register by August 12, 2019.
Time is limited to participate in the above opportunities. Contact us to learn how our global expertise and class action experience can help you register for all Global Opt-In and Non-U.S. cases.
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