Fake press releases affect DeutscheBank share

Wednesday December 18 two fake press releases were diffused in the news wire, spreading the rumour about Deutsche Bank facing a large accounting scandal and firing its Chief Financial Officer . The accounting scandal would imply the restate of the financial statements and the report of net loss for 2012 and 2013.

At 3 P.M. a fake Financial Times breaking news was sent by e-mail to almost ten thousand Financial Times subscribers.
A fake Deutsche Bank release as well was sent to more than a thousand Deutsche Bank contacts.

The action negatively affected the Deutsche Bank shares' price: between European 4 P.M. And 5 P.M.,
the price was visibly decreasing, either on the Deutsche Börse and on the New York Stock Exchange.

The action claimed to point against European austerity policies and the Deutsche Bank involvement in them, and to call for experimenting new strategies in anti-systemic struggles.


The article from Finance Magazine on the action (in German):
 http://www.finance-magazin.de/persoenlich-personal/karriere/verleumdungsattacke-gegen-deutsche-bank-cfo-stefan-krause/

The original claim:
 http://www.indymedia.ie/article/104366?userlanguage=ga&save_prefs=true

Analysis connected to the action:
 http://www.indymedia.org.uk/en/2013/12/514307.html


Below you can find:
-The text of the fake Financial Times release
-The text of the fake Deutsche Bank release


Fake Financial Times release

Deutsche Bank finances in upheaval; CFO fired

Deutsche Bank fired its top financial executive Stefan Krause after discovering that the company had improperly accounted for almost €7 billion on its corporate balance sheets during the past seven quarters.

In a statement issued on Wednesday, the company said an internal audit revealed that expenses had been booked as capital expenditures. Taking the new information into account, the company said it would have reported a net loss for 2012 and the first three quarters of 2013.

"As a result of an internal audit of the company's capital expenditure accounting, it was determined that certain transfers from line cost expenses to capital accounts during this period were not made in accordance with generally accepted accounting principles", the company said.

The amounts under investigation included more than €4 billion in 2012 and more than €2 billion for the first three quarters of 2013, the company said. Deutsche Bank said it had fired Stefan Krause as chief financial officer. The company has also accepted the resignation of Henry Ritchotte as chief operating officer.

On Tuesday, after being notified of the results of Deutsche Bank's internal audit, the company's auditor KPMG stated, its audit reports for 2012 and the first three quarters of 2013 could not be relied on, according to the Deutsche Bank statement.


Deutsche Bank finances in upheaval; CFO fired


Fake Deutsche Bank release

Deutsche Bank restates its financial statements

Frankfurt am Main, 18 December 2013

Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) today announced
it intends to restate its financial statements for 2012 and
the first three quarters of 2013. As a result of an internal
audit of the company's capital expenditure accounting, it
was determined that certain transfers from line cost expenses
to capital accounts during this period were not made in
accordance with generally accepted accounting principles.
The amount of these transfers was €4,435 million for 2012
and $2,310 million for first three quarters of 2013.
Without these transfers, the company's reported net revenue
would be reduced to €29,306 million for 2012 and €20.241
million for first three quarters of 2013, and the company
would have reported a net loss for 2012 and for the first
three quarters of 2013.

The company promptly notified notified KPMG SA, which had
audited the company's financial statements for 2012 and
for the first three quarters 2013, promptly upon discovering
these transfers. On Tuesday 17, KPMG advised Deutsche Bank
that in light of the inappropriate transfers of line costs,
KPMG's audit report on the company's financial statements
for 2012 and KPMG's review of the company's financial
statements for the first three quarters of 2013 could not
be relied upon.

The company will issue unaudited financial statements for
2012 and for the first three quarters of 2013 as soon as
practicable. When an audit is completed, the company will
provide new audited financial statements for all required
periods. Also, Deutsche Bank is reviewing its financial
guidance.

The company has terminated Stefan Krause as chief financial
officer. The company has accepted the resignation of Henry
Ritchotte as chief operating officer.

Deutsche Bank has notified the Federal Financial Supervisory
Authority (BaFin) of these events.

The expected restatement of operating results for 2012 and 2013
is not expected to have an impact on the Company's cash
position and will not affect Deutsche Bank's customers or
services.

"Our senior management team is shocked by these discoveries,"
said Jürgen Fitschen, Deutsche Bank Co-CEO. "We are committed
to operating Deutsche Bank in accordance with the highest
ethical standards."

"I want to assure our costumers and employees that the
Deutsche Bank group remains viable and committed to a
long-term future. Our services and products are in no way
affected by this matter, and our dedication to meeting
costumers needs remains unwavering," added Fitschen. "I and
the management team strongly commit to driving fundamental
change at Deutsche Bank."