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Case Status:    ONGOING    
On or around 10/20/2020 (Date of last review)

Filing Date: February 08, 2019

According to the Complaint, Wirecard, a technology company, purports to provide outsourcing and white label solutions for electronic payment transactions worldwide.

The Complaint alleges that 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.

On May 6, 2019, the Court issued an Order appointing Lead Plaintiff and Lead Counsel. Lead Plaintiff filed an amended Complaint on February 14, 2020. Defendants filed a Motion to Dismiss the amended Complaint on March 13. On April 15, the Court issued an Order denying Defendants' Motion to Dismiss. Lead Plaintiff filed a second amended Complaint on August 14. On October 8, the Court issued an Order granting Lead Plaintiff's Motion to transfer the case to the Eastern District of Pennsylvania.


Sector: Technology
Industry: Software & Programming
Headquarters: Germany


Ticker Symbol: WCAGY
Company Market: OTC-BB
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 19-CV-00986
JUDGE: Hon. Fernando M. Olguin
DATE FILED: 02/08/2019
CLASS PERIOD END: 02/01/2019
  1. The Rosen Law Firm, P.A. (New Los Angeles)
No Document Title Filing Date
COURT: E.D. Pennsylvania
DOCKET #: 20-CV-05017
JUDGE: Hon. Fernando M. Olguin
DATE FILED: 10/09/2020
CLASS PERIOD END: 06/26/2020
  1. Hagens Berman Sobol Shapiro LLP (Berkeley)
No Document Title Filing Date
—Related District Court Filings Data is not available