Wirecard is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Wirecard overstated its cash balances during the Class Period, falsely claiming €1.9 billion of cash in a trust account that was missing; (2) Wirecard overstated its financial results during the Class Period, including revenue and EBITDA; (3) Wirecard did not have adequate risk management or countermeasures; (4) the Company's external auditor failed to audit Wirecard in accordance with applicable auditing principles; and (5) as a result, Defendants’ statements about Wirecard’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you incurred a loss on WRCDF stocks purchased between August 17, 2015 and June 24, 2020, this lawsuit is on your behalf. The lawsuit was filed in the the United States District Court for the Eastern District of Pennsylvania, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until September 8, 2020 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
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