ROSEN, A LONGSTANDING AND TOP RANKED GLOBAL INVESTOR FIRM, Announces Investigation of Securities Claims Against Wirecard AG - WCAGY, WRCDF
NEW YORK, July 6, 2020 /PRNewswire/ --Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Wirecard AG (OTC: WCAGY, WRCDF) resulting from allegations that Wirecard may have issued materially misleading business information to the investing public.
NEW YORK, July 6, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Wirecard AG (OTC: WCAGY, WRCDF) resulting from allegations that Wirecard may have issued materially misleading business information to the investing public.
On June 18, 2020, the Company stunned investors by announcing the need to further delay publication of its financial results and revealing that about €1.9 billion ($2.1 billion) in cash has gone missing. The Company also warned loans up to €2 billion could be terminated. Further, the Company stated that Ernst & Young was unable to confirm the location of the cash in certain trust accounts and there was evidence that "spurious balance confirmations" had been provided.
On June 23, 2020, CNN reported that former Wirecard CEO, Markus Braun, was arrested in Germany "on suspicion of having inflated the digital payment company's balance sheet and sales[.]" Wirecard American depositary receipts have fallen over 75% following these revelations.
Rosen Law Firm is preparing a securities lawsuit on behalf of Wirecard shareholders. If you purchased securities of Wirecard please visit the firm's website at http://www.rosenlegal.com/cases-register-1880.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com
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