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).
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.”