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Pomerantz LLP Announces Notice of Pendency of Class Action To All Persons and Entities Who, During the Period from March 14, 2017, through September 18, 2020, Inclusive Purchased or Otherwise Acquired Deutsche Bank Aktiengesellschaft Common Stock

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December 19, 2022 GMT

NEW YORK, Dec. 19, 2022 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK



Case No. 1:22-cv-02854-JSR

ALI KARIMI, Individually and On Behalf of All Others Similarly Situated,


Plaintiffs,

v.

DEUTSCHE BANK AKTIENGESELLSCHAFT, JOHN CRYAN, AND CHRISTIAN SEWING,


Defendants.


SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, AND PROPOSED SETTLEMENT OF CLASS ACTION; (II) SETTLEMENT HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS’ FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO: All persons and entities who, during the period from March 14, 2017, through September 18, 2020, inclusive (the “Settlement Class Period”), purchased or otherwise acquired Deutsche Bank Aktiengesellschaft (“Deutsche Bank”) common stock (i) on any stock exchanges located in the United States, (ii) on any alternative trading systems located in the United States, or (iii) pursuant to other domestic transactions, and were allegedly damaged thereby (the “Settlement Class”):

PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned litigation (the “Action”) has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class as set forth in the full printed Notice Of (I) Pendency Of Class Action, Certification Of Settlement Class, And Proposed Settlement of Class Action; (II) Settlement Hearing; And (III) Motion For An Award Of Attorneys’ Fees And Reimbursement Of Litigation Expenses (the “Notice”).

YOU ARE ALSO NOTIFIED that Plaintiffs in the Action have reached a proposed settlement of the Action for $26,250,000.00 in cash (the “Settlement”), that, if approved, will resolve all claims in the Action. Lead Counsel will apply to the Court for an award of attorneys’ fees in an amount not to exceed 33.3% of the Settlement Fund ($8,750,000), plus actual expenses up to $1,000,000. The attorney fee application will be made collectively on behalf of Pomerantz LLP and Bronstein, Gewirtz & Grossman LLC, with any attorneys’ fees awarded by the Court divided as follows: Pomerantz LLP (85%) and Bronstein, Gewirtz & Grossman LLC (15%). An estimate of the average cost per allegedly damaged Deutsche Bank securities, if the Court approves Lead Counsel’s fee and expense application, is $0.03 per allegedly damaged security.

THE COURT HAS RESCHEDULED THE HEARING FOR FINAL APPROVAL OF THE SETTLMENT FROM JANUARY 31, 2023 AT 4:00 P.M. TO JANUARY 31, 2023 AT 9:00 A.M. The hearing will be held before the Honorable Jed S. Rakoff at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, Courtroom 14B, 500 Pearl Street, New York, NY 10007, or by telephonic, video conferencing or other electronic means, as posted on the website of the Claims Administrator. The hearing will determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation And Agreement Of Settlement (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; (iv) whether Lead Counsel’s application for an award of attorneys’ fees and reimbursement of Litigation Expenses should be approved, and (v) whether to award Plaintiffs out of the Settlement Fund pursuant to 15 U.S.C. §78u-4(a)(4) in connection with their representation of the Settlement Class and, if so, in what amount.

If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at Deutsche Bank Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173013, Milwaukee, WI 53217 or toll free on 1-800-232-3154. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.DeutscheBankSecuritiesLitigation.com.

If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than February 7, 2023. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than January 10, 2023, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees and reimbursement of expenses, must be filed with the Court and delivered to representatives of Lead Counsel and Defendants’ Counsel such that they are received no later than January 17, 2023, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk’s office, Deutsche Bank, or Defendants’ counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.

Requests for the Notice and Claim Form should be made to:

Deutsche Bank Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173013
Milwaukee, WI 53217

Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:

POMERANTZ LLP
Emma Gilmore
600 Third Avenue, 20th Floor
New York, NY 10016
egilmore@pomlaw.com

Dated: November 22, 2022

By Order of the Court
United States District Court
Southern District of New York

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SOURCE Pomerantz LLP