WCAGY, WRCDF ALERT: Zhang Investor Law Reminds Shareholders of Deadline in Securities Class Action Lawsuit Against Wirecard AG – WCAGY, WRCDF

Monday, 04. March 2019 23:29

NEW YORK, March 04, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Wirecard AG (OTC: WCAGY, WRCDF) from April 7, 2016 through February 1, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Wirecard investors under the federal securities laws.  The firm reminds shareholders of the April 9, 2019 lead plaintiff deadline in the class action.

A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, http://zhanginvestorlaw.com/join-action-form/?slug=wirecard-ag&id=1718  or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.

According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) for the period spanning from 2015 to 2018, a senior Wirecard executive in Singapore had been accused of forging and backdating contracts, including falsifying accounts and money laundering; (2) an external law firm commissioned to investigate Wirecard’s Singapore office had reportedly found evidence of “serious offences of forgery and/or of falsification of accounts”; (3) Wirecard had downplayed weaknesses in its internal controls over financial reporting and failed to disclose the true extent of those weaknesses; and (4) as a result, defendants’ statements about Wirecard’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class has not been certified.  You may retain counsel of your choice.  You may take no action at this time and be an absent class member.  Your ability to obtain a recovery is not dependent upon being a lead plaintiff. 

Zhang Investor Law represents investors worldwide.  Attorney Advertising.  Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
info@zhanginvestorlaw.com
tel: (800) 991-3756

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