2023-12-22 18:20:08
The bankrupt payment service provider Wirecard had been using false numbers for years. Now there is a lawsuit for damages against the auditors of the balance sheets – Ernst & Young.
München.
The law firm Nieding + Barth has filed a claim for damages against the auditor EY on behalf of more than 13,000 Wirecard investors. The German Association for the Protection of Securities Ownership (DSW) and DSW Vice President Klaus Nieding announced that the 80,000-page lawsuit with attachments was filed with the Munich Regional Court. Institutional and private investors demanded more than 700 million euros from EY. The costs of the lawsuit would be borne by British litigation financiers who, if successful, would receive part of the money sued for.
The payment service provider Wirecard, which was listed in the Dax at the time, collapsed in 2020 after 1.9 billion euros that were supposedly booked in escrow accounts could not be found. A model case brought by aggrieved shareholders before the Bavarian Supreme Court is intended to clarify central questions and, with its ruling, provide the guidelines for further proceedings. The defendants include ex-Wirecard managers and the auditing firm EY, which had audited the balance sheets for years. Former CEO Markus Braun, accused of fraud, has been standing before a criminal chamber of the Munich Regional Court for a year. (dpa)
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