Wirecard scandal: Hausfeld claims damages on behalf of institutional investors

Hausfeld Rechtsanwälte LLP is claiming damages on behalf of numerous German and international institutional investors which invested in Wirecard shares.

The claims are brought against Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, which was Wirecard AG's auditor for many years. Hausfeld represents JurisDynamics GmbH, a legal services provider to which the institutional investors have assigned their claims for damages. The institutional investors purchased Wirecard shares for several hundred million EUR and suffered high losses following Wirecard’s insolvency.

"We argue that EY must be liable for the damages incurred," explains Wolf von Bernuth, partner at Hausfeld, referring to the KapMuG model proceedings already being conducted against EY, among others, before the BayObLG (Case No. 101 Kap 1/22). "We will participate in the model proceedings and have already filed high claims," says von Bernuth.