Wirecard sinks 38% amid accounting scandal

Friday, 26. June 2020 09:51

Stocks of Wirecard AG dropped over 38% on Friday amid the scandal that erupted over a missing $2.1 billion, and that resulted in the company's application for insolvency on Thursday.

According to the interview published by the Financial Times, the European Commission will investigate if the German financial regulator BaFin broke the rules of financial reporting in the case of Wirecard. At the time being, the company owes creditors $4 billion.

Wirecard plunged 38.15% to sell for €2.22 per share at 9:54 am CET.

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Breaking the News / BU