DRRT's Global Loss Recovery Blog

On Wednesday, February 7, 2024, over 130 institutional shareholders served ING Groep NV (“ING”) and certain former directors of ING with a writ of summons claiming over €600 million in damages caused by ING’s failure to properly inform the market of material information relating to ING Bank N.V.’s (“ING Bank”) alleged corrupt practices and violation of anti-money laundering laws.  This lawsuit follows the €775 million fine ING paid to the Netherlands Public Prosecution Service (Openbaar Ministerie) (the “NPPS”) in 2018 for violations of anti-money laundering laws.