Hagens Berman Alerts Wirecard (WCAGY; WRCDF) Investors to April 9, 2019 Lead Plaintiff Deadline in Securities Class Action Regarding Possible Accounting Irregularities
San Francisco - 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 United States District Court for the Central District of California. The complaint was filed on February 8, 2019, case no. 2:19-cv-00986. If you purchased or otherwise acquired Wirecard securities between April 7, 2016 and February 1, 2019 (the “class period”) and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
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.
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.
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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Reed Kathrein, 510-725-3000
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