Glancy Prongay & Murray Reminds Investors of Today’s Deadline in the Class Action Lawsuit Against Wirecard AG

Wednesday, 10. April 2019 01:22

LOS ANGELES, April 09, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the April 9, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Wirecard AG (“Wirecard” or the “Company”) (OTC: WCAGY, WRCDF) securities between April 7, 2016 and February 1, 2019, inclusive (the “Class Period”). Wirecard investors have until April 9, 2019 to file a lead plaintiff motion in this class action.

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

On January 30, 2019 the Financial Times reported that a Wirecard executive was suspected of using forged contracts to complete suspicious transactions. Then on February 1, 2019, the Financial Times alleged that a law firm hired by Wirecard discovered “serious offenses of forgery and/or of falsification of accounts.” On this news, shares of Wirecard fell nearly 20%, thereby injuring investors.

The Complaint filed in this class action alleges that Defendants made materially false and 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.

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If you purchased or otherwise acquired Wirecard securities during the Class Period you may move the Court no later than April 9, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

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