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Deutsche Bank's DWS shares fall as US opens probe into ESG Claims

Deutsche Bank asset-management arm DWS Group slumped the most in almost 18 months after a US probe into the sustainability claims of its funds, in a further sign that authorities are taking a tougher stance on potential greenwashing of investment products.

Photo: Deutsche Bank

US prosecutors have opened an investigation into allegations that DWS overstated sustainability metrics on some investments, according to a person with knowledge of the matter. The probe is at an early stage, the Wall Street Journal reported earlier.

DWS' stock fell as much as 12.9 percent, the biggest drop since March last year when the coronavirus pandemic hit financial markets. Deutsche Bank fell more than 2 percent before paring losses.

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