The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased Wirecard AG (OTC: WRCDF) securities between August 17, 2015 and June 24, 2020.
According to the Wirecard lawsuit, throughout the Class Period defendants made 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 suffered a loss in Wirecard you have until September 8, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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