US investors in Wirecard AG have dropped their proposed class action over an alleged €1.9 billion fraud after telling a federal court there’s no money to be had.
The lead investors voluntarily dismissed their claims against the defunct financial services provider and its former CEO Markus Braun with finality, they told the US District Court for the Eastern District of Pennsylvania Nov. 7.
- Wirecard invented fictional escrow accounts worth about $2 billion in “the largest fraud in German postwar history,” the investors alleged
- The plaintiffs dropped claims against an auditor, an Ernst & Young Global Ltd. accounting affiliate in Germany, ...