Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Wirecard AG (“Wirecard” or the “Company”) (OTC: WCAGY and OTC: WRCDF) to determine whether the Company engaged in securities fraud or other unlawful business practices.
On June 19, 2020, Bloomberg reported that “Wirecard’s lenders are demanding more clarity from the company in return for the extension of almost $2 billion in financing after it breached terms on the loan, people familiar with the matter said.” Further, according to Bloomberg, “[a]t least 15 commercial banks who have lent to Wirecard, including Commerzbank AG and ABN Amro, are in hectic negotiations about the steps to take after the German payments company said on Thursday it’s unable to release its annual report because it can’t locate 1.9 billion euros in cash ($2.1 billion) . . . .”
On this news, Wirecard’s stock dropped significantly, thereby injuring investors.
Wirecard investors who purchased, or otherwise acquired, the Company’s common stock and suffered significant losses are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], to discuss the securities investigation or potential legal claims.