Home / Wirecard


European Investors – VEB seek compensation for investors from Wirecard’s auditor EY in Germany

EY, in its capacity as statutory auditor of Wirecard AG has not assumed the full width of its responsibilities and, hence has not properly fulfilled its role. EY has played a significant role in the whole Wirecard scandal, not only from its inability to detect the flaws in Wirecard’s escrow account in former years. Moreover EY’s communication behaviours were harmful to the Wirecard shareholders and to the capital markets at large.

Just when EY should have played a protective and clarifying role, it left the shareholders out in the cold. European Investors – VEB hold EY liable and encourage all investors to sign up for its Wirecard-action.

Earlier postponement of presentation 2019 consolidated financial statement 

On 25 May 2020 Wirecard postponed its presentation of the 2019 consolidated financial statement for the third time to 18 June 2020. This worry investors because Wirecard’s CEO – Dr Markus Braun – stated on 3 May that EY would have ‘no problem’ in signing off the 2019 accounts on 4 June 2020.

The reason mentioned for the deferral; ‘not all audit procedures have yet been completed’, does not convince at all.  European Investors wants to know whether investors have been misinformed by Wirecard between 3 and 25 May 2020. Read European Investors’ earlier letter on this matter.