Recovery of Substantial Losses in Wirecard Stock
Shares of Wirecard – a German payment processor company that trades under the stock symbol WDI – recently plummeted by over 60 percent after Wirecard’s auditor alleged that it can’t find any evidence for a quarter of the company’s cash on its balance sheet.
Specifically, Ernst & Young stated that it didn’t have sufficient evidence for $1.9 billion euros that Wirecard’s balance sheet reflected were held in cash. This comes after the Financial Times alleged in October 2019 that Wirecard appeared to have inflated sales and profits at subsidiaries.
If your financial advisor over-concentrated your investments in Wirecard shares, or if you have suffered substantial losses in Wirecard stock, you may have legal claims against your advisor who recommended buying or holding the Wirecard positions. Please contact one of our Business Trial Group attorneys at 800-816-1031 to further discuss your claims
The Business Trial Group at Morgan & Morgan will never charge hourly fees or expensive retainers. We are only paid if we successfully recover money for you.
The Business Trial Group is part of the largest contingency law firm in the nation, with more than 500 lawyers and 50 offices. We regularly battle against brokerage firms, investment advisory firms, and banks, and have helped investors recover tens of millions of dollars of investment losses.