WIRECARD AG files for Insolvency – Legal Action against EY is the best Way Out for aggrieved Shareholders, Bondholders and Derivative holders

Few minutes ago, Wir­e­card AG filed for in­solv­ency. This means that Wir­e­card AG is likely to be elim­in­ated as an op­pon­ent for legal pro­ceed­ings. Dam­aged in­vestors, how­ever, have the op­tion of re­ly­ing on Wirecard’s an­nual aud­itor, Ernst & Young Wirtschaft­s­prü­fungs­gesell­schaft (EY).

In­form­a­tion on the Law­suit against Ernst & Young »

The law firms Schirp & Part­ner and at­tor­ney Dr. Marc Lieb­scher have already filed class ac­tion law­suits against EY and are pre­par­ing fur­ther class ac­tion law­suits. This af­fects not only the ag­grieved share­hold­ers, but also all in­vestors who sub­scribed to the bond is­sued by Wir­e­card AG in 2019. Moreover, the hold­ers of de­riv­at­ives are also affected.

We can of­fer in­vestors who do not wish to bear the costs of a class ac­tion law­suit lit­ig­a­tion fin­an­cing through a renowned lit­ig­a­tion financier.

Dr. Wolfgang Schirp: “Un­for­tu­nately, this de­vel­op­ment was fore­see­able. It is fright­en­ing how long Wir­e­card AG was able to op­er­ate without be­ing ob­jec­ted to by the aud­it­ors. We have been mon­it­or­ing Wir­e­card AG since 2008 and have col­lec­ted very ex­tens­ive ma­ter­ial. It was al­ways clear that some­thing was wrong.”

Dr. Marc Lieb­scher: “We have suc­ceeded in win­ning a lit­ig­a­tion fin­an­cier for the class ac­tion suits. We as­sume that we will be able to file the next class ac­tions very soon.”