Why is action being taken against EY and not against Wirecard itself?
Based on the current situation, a lawsuit against EY seems most promising. In principle, a lawsuit against Wirecard AG is possible and promising, but we do not believe that it is economically promising due to the risk of insolvency. Moody’s has already devalued the company at a junk level. Nevertheless, we are also considering this option for you.
Update: Wirecard AG filed for bankruptcy on June 25, 2020 – thus, it fails as a solvent counterparty for the successful enforcement of possible claims for damages by investors!/span>