Wirecard AG (OTCMKTS: WCAGY; WRCDF)
Hagens Berman Sobol Shapiro LLP alerts investors in Wirecard AG (WCAGY; WRCDF) to the April 9, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Central District of California.
If you purchased or otherwise acquired securities of WCAGY or WRCDF between April 1, 2018 and February 1, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing WRCDF@hbsslaw.com.
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.
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