Deutsche Bank's DWS Falls After Report on US Probe Over Sustainability Claims
26 August 2021 - 09:59AM
Dow Jones News
By Olivia Bugault
Shares in DWS Group GmbH & Co. KGaA fell on Thursday after
The Wall Street Journal reported that the asset-management arm of
Deutsche Bank AG was under investigation by U.S. authorities over
potential overstated efforts on environmental and other issues.
At 0730 GMT, DWS Group was down 9.3%, while Deutsche Bank fell
2%.
DWS, a $1 trillion asset manager, is being probed by the
Securities and Exchange Commission and federal prosecutors after
its former head of sustainability said it overstated efforts to use
sustainable investing criteria to manage its assets, the Journal
reported late Wednesday, citing people familiar with the
matter.
Deutsche Bank, DWS, the U.S. attorney's office in Brooklyn and
the SEC all declined to comment, the Journal said.
Deutsche Bank owns a roughly 80% stake in DWS Group which is
publicly listed on the Frankfurt Stock Exchange.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
August 26, 2021 03:59 ET (07:59 GMT)
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