Two U.S. law firms have filed a case against Danske Bank A/S before the Copenhagen City Court on behalf of international investors over the Danish lender's alleged ties to a massive Russian money-laundering scheme.

Grant & Eisenhofer PA and DRRT represent Danske Bank investors from 19 countries across Europe, Asia, Australia and North America. The claimant group, which is seeking $475 million in damages, is asserting fraud claims stemming from the scheme and its purported multiyear cover-up by the lender and its senior leadership, Grant & Eisenhofer said in a March 18 statement.

The complainants allege that Danske Bank's management "engaged in a concerted cover-up of its enormous money laundering exposure, while continuing to paint a rosy picture to investors," the law firm said.

The lender and four of its former executives are already facing a class-action lawsuit in New York for failing to provide information about its Estonian branch's suspected €200 billion money laundering activities, for which it is under investigation by international authorities.