MIAMI, Aug. 18, 2014 (GLOBE NEWSWIRE) -- The securities law firm of Dimond Kaplan & Rothstein, P.A. (http://www.dkrpa.com) announced today that it has filed claims against Deutsche Bank Securities, Inc. ("Deutsche Bank"), the U.S. broker-dealer of German bank Deutsche Bank AG (NYSE:DB). The claims, which were filed with the Financial Industry Regulatory Authority ("FINRA"), seek to recover approximately $7 million that DKR's clients lost in the Glanmore Property Fund Limited ("Glanmore").
The Glanmore fund invested in United Kingdom real estate and was managed by Tilney, an investment management firm owned by Deutsche Bank. Deutsche Bank recommended and sold the Glanmore fund to wealthy investors in Mexico, Central America, and South America. At least some of Deutsche Bank's sales to investors took place when the fund was in financial distress.
The Glanmore fund has dropped significantly in value, causing many Glanmore investors to lose the vast majority of the money that they invested in the fund. "We believe that Deutsche Bank misrepresented the safety of the Glanmore fund to our clients and also provided inflated and inaccurate pricing information to our clients," said DKR attorney Jeffrey B. Kaplan.
The sole purpose of this press release is to investigate, on behalf of DKR's clients, Deutsche Bank's sales practices relating to the Glanmore fund. If you are a current or former Deutsche Bank customer who bought the Glanmore fund and have information relating to the manner in which Deutsche Bank represented the Glanmore fund, we encourage you to contact Dimond Kaplan & Rothstein, P.A. attorney Jeffrey B. Kaplan (JKaplan@dkrpa.com or 305-374-1920) or Brian Levin (BLevin@dkrpa.com or 305-374-1920). For Spanish-language or Portuguese-language inquiries, please ask for DKR attorney Lorenz Pruss (LPruss@dkrpa.com).
Dimond Kaplan & Rothstein, P.A. is a nationally recognized law firm with offices in Miami, Palm Beach, New York, and Los Angeles. DKR represents investors throughout the United States, Mexico, Central America, South America and Europe in stockbroker misconduct and investment fraud cases.