SAN FRANCISCO, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Wirecard AG (WCAGY; WRCDF) of the April 9, 2019 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired Wirecard securities between April 7, 2016 and February 1, 2019 (the “class period”) and suffered at least $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information about the case visit:
https://www.hbsslaw.com/cases/WRCDF
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, during the class period Defendants made false and/or misleading statements and/or did not disclose important facts concerning Wirecard’s business and improper accounting practices.
Beginning on or about January 30, 2019, the Financial Times reported that an internal Wirecard presentation outlined potential falsification of accounts and money laundering.
The FT further reported that a preliminary report by one of Asia’s preeminent law firms indicated two senior executives in the Company’s Munich head office were aware of a “round tripping” scheme whereby a lump of money would leave Wirecard’s German bank and eventually wind up on the books of Wirecard’s India business.
“We’re focused on investors’ losses and the extent to which senior management may have engaged in improper round-tripping transactions to deceive the auditors and mislead investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Wirecard should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email WRCDF@hbsslaw.com.
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Contact:
Reed Kathrein, 510-725-3000