NEW YORK, Feb. 22, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Wirecard AG (OTC: WCAGY, WRCDF) from April 7, 2016 through February 1, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Wirecard investors under the federal securities laws.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 9, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/wirecard-ag/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar of Pawar Law Group toll free at 888-589-9804 or via email at info@pawarlawgroup.com.

The complaint asserts 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. When the true details entered the market, the lawsuit claims that investors suffered damages.

No class has been certified.  Until a class is certified, you are not represented by counsel unless you hire one.  You may hire counsel of your choice.  You may also do nothing at this time and be an absent member of the class.  Your ability to share in any future recovery is not dependent upon being a lead plaintiff. 

Pawar Law Group represents investors from around the world.
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Vik Pawar, Esq.
Pawar Law Group P.C
20 Vesey Street Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Toll Free: 888-589-9804
Fax: (212) -571-0938
info@pawarlawgroup.com
www.pawarlawgroup.com