On June 18, 2020, the Company stunned investors by announcing that th need to further delay publication of its financial results, and revealing that about 1.9 billion euros ($2.1 billion) in cash has gone missing. The company warned loans up to 2 billion euros could be terminated if its audited annual report, delayed for the fourth time, was not published by June 19.

Ernst & Young was unable to confirm the location of the cash in certain trust accounts, and there was evidence that “spurious balance confirmations” had been provided, Wirecard said in a statement on Thursday. That’s about a quarter of the consolidated balance sheet total, Wirecard said.

On this news, Wirecard’s stock fell over 60% in intraday trading on June 18, 2020.

The Portnoy Law Firm has commenced an investigation into these claims of alleged securities fraud and currently prepares a complaint on behalf of investors.

Wirecard AG

Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.

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There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.

We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.

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Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.

The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
8240 Beverly Blvd., Suite 9
Los Angeles, CA 90048
info@portnoylaw.com