This case involved a whitewash report which it was said was negligently prepared by accountants, resulting in the approval of a transaction which caused the company to become insolvent shortly afterwards.
The case was pursued using litigation finance by the liquidator of the company who otherwise lacked the resources to pursue the claim.
With the benefit of litigation finance to take the case to a conclusion, the liquidator was able to commence the claim and achieve an early settlement and recoveries to the creditors.
Professional Negligence / Insolvency
Retail
Africa, Middle East, Canada, Caribbean, Latin America
+44 (0) 203 327 3464
neil.purslow@therium.com
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This case is a claim against EY as auditor of Wirecard for allegedly breaching standards of professional conduct causing loss to the company’s shareholders. The claim is brought by various institutional investors who held stock in the company between 2015 and 2020.
The Wirecard scandal is one of the biggest accounting scandals in Germany ever, causing billions of Euros of damages to investors. The claim is an example of proceedings under the German Capital Markets Model Act to seek redress for institutional investors.
Therium is working alongside its partner firm DRRT in order to bring the claim on behalf of instituitional investors.
Professional Negligence / Securities Litigation / Investor Loss / Collective Redress
Financial Services
Africa, Europe, Germany
+49 (0)211 2600 6550
christoph.kuzaj@therium.com
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