INVESTOR ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Wirecard AG and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

2/19, 5:39 PM (Source: GlobeNewswire)

LOS ANGELES, Feb. 19, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Wirecard AG (“Wirecard” or “the Company”) (OTC: WCAGY, WRCDF) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's shares between April 7, 2016 and February 1, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before April 9, 2019.  

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

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. A senior Wirecard executive located in Singapore was accused of backdating contracts and other acts of forgery including falsifying accounts and money laundering, throughout the time period of 2015 to 2018. When the Company hired an external law firm to investigate the Singapore office, it reported “serious offences of forgery and/or of falsification of accounts.” Wirecard denied material weakness in its internal controls and failed to disclose the true weakness of its financial reporting controls to investors. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Wirecard, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
info@schallfirm.com

SOURCE:

The Schall Law Firm

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