'Investigators Searched Deutsche Bank Fund Subsidiary DWS; The Investment Company DWS Continues To Face Accusations Of Greenwashing. Now There Was A New Raid' - Handelsblatt
Portfolio Pulse from Benzinga Newsdesk
DWS, a subsidiary of Deutsche Bank, was raided by 50 investigators in Frankfurt over greenwashing allegations. This is the second raid related to claims of falsely advertising funds as more sustainable than they are. The investigation, triggered by former sustainability head Desiree Fixler, has led to a $19 million SEC fine in the USA. DWS is cooperating with authorities and negotiating a separate fine for administrative offenses with the public prosecutor's office.
January 23, 2024 | 3:57 pm
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Deutsche Bank's subsidiary DWS was raided due to greenwashing allegations, marking the second such incident. DWS is cooperating with authorities and is in the midst of fine negotiations.
The repeated raids and ongoing legal issues related to greenwashing allegations against DWS are likely to negatively impact Deutsche Bank's reputation and could lead to financial penalties, which may affect the stock price in the short term.
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