Wirecard plummets 65% amid company scandal

Friday, 26. June 2020 16:17

Shares of Wirecard AG plummeted further on Friday, continuing the downward spiral spurred by the company scandal involving missing $2.1 billion. Wirecard applied for insolvency the previous day.

Earlier today, German shareholder association Schutzgemeinschaft der Kapitalanleger e.V. (SdK) filed criminal charges against auditors from Ernst & Young, whose audit prompted the investigation into Wirecard's affairs. The company now owes creditors $4 billion.

Wirecard sank by 67.73% to sell for €1.143 per share at 4:24 pm CET. On the day before the scandal came into the light, the company's stocks traded at $104.5 at the close.

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Breaking the News / BU