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.
The securities fraud class action concerns press reports, beginning on January 30, 2019, that an internal Company presentation outlined potential falsification of accounts and money laundering and that a preliminary report by one of Asia’s most eminent legal firms indicated two senior executives in the Company’s Munich head office had at least some awareness of a reported revenue “round tripping” scheme designed to fool auditors into thinking the revenues were legitimate.
Since then, the prices of Wirecard securities have significantly fallen.
“We’re focused on investors’ losses, the extent to which senior management may have engaged in improper round-tripping transactions, and whether investors may have been misled,” said Hagens Berman partner Reed Kathrein.
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