To opt-out, that is the question. An opt-out action is when an investor chooses to remove itself as a class member of a securities class action suit with the intention of filing a direct action against the defendant. There are many reasons why it may be advantageous for an investor to proceed in this manner. As we have had an abundance of experience with direct action opt-outs, if the damages are large enough, this will likely be the best course of action for the institutional investor.
Copenhagen, Denmark: On Monday, September 21, 2020, Danish boutique litigation firm KLAR Advokater filed a fifth and final round of complaints against Danske Bank A/S for damages on behalf of 55 institutional investors clients of DRRT and Grant & Eisenhofer. With this additional round of claims totaling over DKK 1.071 billion (€144 million/$169 million) the total amount of the DRRT/G&E group of claims comes to DKK 6.786 billion (€912 million/$1.071 billion) and the number of claimants to 303. The cases were filed in the Copenhagen City Court.
DRRT successfully hosted the panel regarding Shareholder Protection through Loss Recovery Litigation at the International Corporate Governance Network Miami on October 16, 2019.
On Thursday, June 20, 2019, DRRT, along with its local counsel Koga & Partners, successfully filed the first complaint against Kobe Steel, Ltd in Tokyo District Court, claiming over ¥5 billion in damages. Kobe Steel is Japan’s third largest steelmaker, as well as a major supplier of aluminum, copper and other products around the world.