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Possible claims for damages against auditors in the Wirecard skandal?

International claims

Possible claims for damages against auditors in the Wirecard skandal?

In June 2020 it came out that the by Wirecard AG alleged trust accounts of about EUR 1.9 billion did not exist. As an immediate effect, the Wirecard AG share price falled. Since then, as known CEOs and other directly involved persons resigned a/o were dismissed and have been impeached, whereas Wirecard itself filed for insolvency.

Therefore the question arises as to who is liabile on the civil basis against those woh lost money: apart from Wirecard, the role of the #auditors (EY) might become very interesting for the dameged persons a/r companies, since they have been auditing Wirecard's annual financial statements since 2012 and, despite repeated indications of irregularities, allegedly issued the company with unqualified audit certificates since 2018.

Hence should the investigations also lead to an impeachment of the auditiors, investors a/of third parties could claim damages with much more sucess towards the latter than Wirecard itself. 

We can be of help for the verification of the effective possibilities to claim damages. You can contact us.