Wirecard Investors Launch Historic Lawsuit Against EY and Former Executives

The landmark case seeks €750 million in damages for 8,500 claimants and could take years to resolve.

The Wirecard civil case begins at the Bavarian Supreme Court, representing 8,500 investors claiming €750 million in losses following the company's 2020 collapse.
The lawsuit targets 11 defendants, with a particular focus on Ernst & Young (EY), accused of approving Wirecard's allegedly fraudulent financial statements for years.
The court proceedings are part of a broader effort to address damages claimed by 50,000 investors, totaling €8.5 billion in the Wirecard insolvency process.
EY denies the allegations, asserting that the claims against them lack merit, while former CEO Markus Braun, also a defendant, is unlikely to provide significant compensation due to his financial losses.
Legal experts anticipate the case could last several years due to its complexity, with the first judgment potentially arriving in three years.