| Deutsche
Bank Fined for
Greenwashing
Scam like for
Enabling
Epstein SDNY
Details
October
By Matthew
Russell Lee, Patreon Maxwell
book
SDNY COURTHOUSE,
Sept 25 – Deutsche
Bank was
sued for their
enabling of
Jeffrey
Epstein, in
lawsuits filed
on
Thanksgiving
2022 in the
U.S. District
Court for the
Southern
District of
New York,
where Inner
City Press
found them in
the docket.
On September
25, 2023 Deutsche Bank was
belatedly
fined $25
million for
greenwashing.
The
SEC said that
despite
marketing
itself as an
ESG leader,
from August
2018 until
late 2021 DWS
failed to
implement
certain
provisions of
its global ESG
integration
policy "as it
had led
clients and
investors to
believe it
would. Investment
advisers must
ensure that
their actions
conform to
their words,"
said Sanjay
Wadhwa, deputy
director of
the SEC's
division of
enforcement
and head of
its climate
and ESG task
force.
"Here, DWS
advertised
that ESG was
in its DNA,
but, as the
SEC's order
finds, its
investment
professionals
failed to
follow the ESG
investment
processes that
it
marketed."
DB
On Epstein late
on May 17, 2023,
plaintiffs' lawyer
David Boies
selectively
announced a $75
million
settlement
with Deutsche
Bank. Nothing
was filed in
the docket.
More
including
class analysis
on Substack here
On June 16,
Judge Rakoff
set a schedule
and provided
details:
"The Court has
reviewed the
Stipulation
and does
hereby
preliminarily
approve the
Stipulation
and the
Settlement set
forth therein
as fair,
reasonable,
and adequate,
subject to
further
consideration
at the
Settlement
Hearing. A
hearing shall
be held before
this Court on
October 20,
2023, at 4:00
p.m.[to] hear
any objections
by Class
Members to the
Settlement or
Plan of
Allocation
***
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