Wirecard – Current Status of the Proceedings against EY
Current Status of the Proceedings against EY
The proceedings concerning Wirecard and potential claims against EY remain complex and time-consuming. Nevertheless, progress is being made, and several avenues are being pursued to clarify the matter further and protect the interests of affected investors.
The model case proceedings
We have represented the model claimant since May 2025. Model case proceedings are intended to resolve key issues consistently for a large number of comparable investor claims. Our aim is to move the proceedings forward as swiftly as possible.
In March 2026, we submitted detailed grounds to the Bavarian Supreme Regional Court concerning the issues that remain unresolved. These relate in particular to information about transactions with third-party partners, receivables, alleged trust assets, revenue and audit opinions for the years 2014 to 2018. The allegations and the associated evidence were specifically linked to the relevant statements in the financial statements and management reports.
Reasons for the delays
In a partial model decision dated 28 February 2025, the Bavarian Supreme Regional Court dismissed the issues directed against EY in the model case proceedings. Other claimant representatives have filed an appeal on points of law with the Federal Court of Justice against that decision. No decision has yet been issued on that appeal.
This appeal also affects other parties and delays the progress of the proceedings. Further applications have also been made, including applications to remove the model claimant and alleging bias on the part of the presiding judge. The court dismissed those applications. However, they have nevertheless required time and resources.
Our strategy remains to resume the individual proceedings against EY wherever possible and to seek enforceable judgments awarding damages in those cases.
Three additional EY entities
Three further EY entities have now been included in the model case proceedings:
- EY Tax GmbH Steuerberatungsgesellschaft
- EY Strategy & Transactions GmbH
- EY Consulting GmbH
Claims against these entities may be registered in the model case proceedings until 28 October 2026. Registration may be advisable because it brings additional potential defendants within the scope of the proceedings and may initially suspend the limitation period for the claims. However, it remains unresolved whether the model case proceedings are admissible in relation to these entities.
Anyone wishing to have a claim registered should provide a binding instruction by 15 September 2026. Registration must be made by a lawyer. A flat fee of EUR 190 plus VAT is payable for this work. It cannot be entirely ruled out that additional court costs may arise.
Security in connection with EY’s restructuring
In 2024, security was requested for numerous clients. This was prompted by the restructuring of EY’s German entity. The purpose of the security is to ensure that potential claims for damages remain financially secured.
EY has not yet provided any security. Where legal expenses insurance covers the costs, the first claims for the provision of security are expected to be filed later this year. Based on the current legal assessment, these claims will not become time-barred until the end of 2027. There is therefore no immediate time pressure.
Potential evidence from the United States
In addition, it is being examined whether documents can be obtained in the United States for use in the German proceedings. This could include internal communications, areas of responsibility, payment flows and access to documents within the EY network. It may concern, in particular, documents held by EY US, affiliated entities or banks.
Such proceedings involve costs and legal uncertainties. However, they may provide access to evidence that would be difficult to obtain in German civil proceedings. Interested clients may indicate, without commitment, that they wish to participate.
Further measures outside the courts
Efforts are also being made outside the court proceedings to increase pressure on EY. During the 2026 annual general meeting season, counter-motions opposing EY’s reappointment as auditor were submitted jointly with shareholders at Deutsche Bank and Volkswagen. It was viewed positively that Allianz SE did not appoint EY as its auditor for 2026.
This is based on the view that EY must regain trust and find a solution to the consequences of the Wirecard matter.
Access to the APAS decision
The Auditor Oversight Body (APAS) has issued a sanctions decision against EY and former members of the profession. This decision is not publicly accessible. Access to the decision is therefore being sought before the Administrative Court of Berlin.
The findings contained in the decision could be significant for clarifying the Wirecard matter and enforcing civil claims. The oral hearing before the Administrative Court of Berlin is scheduled for 7 October 2026.
Economic pressure on EY
According to the information available, EY has lost importance in the German audit market. This may increase the economic and strategic pressure on the firm. From the claimants’ perspective, this improves the prospects that EY will seriously consider an amicable resolution of the dispute in the medium term.
Summary
The model case proceedings have not yet been concluded and are being delayed by further appeals and applications. At the same time, several avenues are being pursued: registration of claims against additional EY entities, claims for the provision of security, the possible obtaining of evidence in the United States and access to regulatory documents. The objective remains to advance the fact-finding process and enforce the claims of affected investors effectively.
Videoconference
You can watch the recording of our webinar from September 2, 2026, here
