{"id":109041,"date":"2022-03-15T13:42:25","date_gmt":"2022-03-15T13:42:25","guid":{"rendered":"https:\/\/weisswert.de\/?p=109041"},"modified":"2022-05-06T01:25:29","modified_gmt":"2022-05-05T23:25:29","slug":"wirecard-scandal-court-paves-the-way-for-investors-auditor-ey-facing-germanys-biggest-mass-action-ever","status":"publish","type":"post","link":"https:\/\/weisswert.de\/en\/press-releases\/wirecard-scandal-court-paves-the-way-for-investors-auditor-ey-facing-germanys-biggest-mass-action-ever\/","title":{"rendered":"Wirecard scandal: Court paves the way for investors \u2013  auditor EY facing Germany\u2019s biggest mass action ever"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row row_height_percent=&#8221;0&#8243; overlay_alpha=&#8221;50&#8243; gutter_size=&#8221;3&#8243; column_width_percent=&#8221;100&#8243; shift_y=&#8221;0&#8243; z_index=&#8221;0&#8243; top_divider=&#8221;arrow&#8221; uncode_shortcode_id=&#8221;305108&#8243;][vc_column column_width_percent=&#8221;100&#8243; gutter_size=&#8221;3&#8243; overlay_alpha=&#8221;50&#8243; shift_x=&#8221;0&#8243; shift_y=&#8221;0&#8243; shift_y_down=&#8221;0&#8243; z_index=&#8221;0&#8243; medium_width=&#8221;0&#8243; mobile_width=&#8221;0&#8243; width=&#8221;3\/4&#8243; uncode_shortcode_id=&#8221;169594&#8243;][vc_custom_heading text_size=&#8221;&#8221; text_transform=&#8221;uppercase&#8221; uncode_shortcode_id=&#8221;717421&#8243;]WEISSWERT Press Release[\/vc_custom_heading][vc_custom_heading heading_semantic=&#8221;h3&#8243; text_size=&#8221;&#8221; text_weight=&#8221;300&#8243; uncode_shortcode_id=&#8221;165755&#8243;]<\/p>\n<h4>Stuttgart, March 15, 2022<\/h4>\n<p>[\/vc_custom_heading][vc_column_text text_lead=&#8221;yes&#8221; uncode_shortcode_id=&#8221;163066&#8243;]<\/p>\n<p>The Regional Court (&#8220;LG&#8221;) of Munich I has issued an order for reference pursuant to the German Capital Markets Model Case Act (&#8220;KapMuG&#8221;), Germany\u2019s collective redress regime for disputes related to capital markets.<\/p>\n<p>Model case defendants are Ernst &amp; Young GmbH Wirtschaftspr\u00fcfungsgesellschaft (&#8220;EY&#8221;) and several other parties, among them former CEO of Wirecard AG (&#8220;Wirecard&#8221;), Dr. Markus Braun. \u201cThis order of the court marks an important breakthrough for the investors against EY. I am firmly convinced that EY will be held liable in the model case proceeding with broad effect for all investors participating in this action,\u201d explains WEISSWERT attorney Maximilian Weiss, who filed the first model case application in Germany in connection with the Wirecard accounting scandal back in May 2020, i.e. even before the accounting fraud and its magnitude became public knowledge.<\/p>\n<p>The court\u2018s decision against EY is not appealable. The Superior Court of Bavaria is now in charge to conduct the model proceedings against EY and other defendants such as former Wirecard CEO Markus Braun. It is expected that the first oral hearing will not take place before the end of 2022. \u201eEY is now facing the biggest mass action in Germany ever to unfold, with thousands of insitutional and private investors joining forces. Based on the evidence before us, I am more than confident that success against EY is only a matter of time\u201c, concludes WEISSWERT attorney Maximilian Weiss.<\/p>\n<p>WEISSWERT has created a platform, on which investors may register, free of charge, in order to obtain further information at no cost: <a href=\"https:\/\/weisswert.de\/en\/current-cases\/wirecard-class-action\/\">https:\/\/weisswert.de\/en\/current-cases\/wirecard-class-action\/<\/a>.<\/p>\n<p>[\/vc_column_text][vc_custom_heading heading_semantic=&#8221;h3&#8243; text_size=&#8221;&#8221; uncode_shortcode_id=&#8221;898098&#8243;]Contact:[\/vc_custom_heading][vc_column_text text_lead=&#8221;yes&#8221; uncode_shortcode_id=&#8221;213779&#8243;]<strong>WEISSWERT Rechtsanwaltsgesellschaft mbH<\/strong><br \/>Rechtsanwalt Maximilian Weiss, LL.M. (Northwestern)<br \/>Feuerbacher Weg 51 | 70192 Stuttgart | Germany<br \/>Tel.: + 49 711 340383 00<br \/>Fax: +49 711 340383 01<br \/><a href=\"mailto:presse@weisswert.de\">E-Mail: presse@weisswert.de<\/a><br \/><a href=\"https:\/\/weisswert.de\">www.weisswert.de<\/a>[\/vc_column_text][vc_column_text text_lead=&#8221;small&#8221; uncode_shortcode_id=&#8221;870911&#8243;]<\/p>\n<p>WEISSWERT Rechtsanwaltsgesellschaft mbH \u2013 Wir sch\u00fctzen Ihr Verm\u00f6gen.<\/p>\n<p>WEISSWERT is a Stuttgart-based law firm specializing in banking law and capital markets law with experience in pursuing complex litigation. WEISSWERT was founded in 2022 by Maximilian Weiss, an attorney specialized in investment-related disputes. The firm\u2019s mission is to rigorously represent investors&#8217; interests at the highest level of legal competence, whether in- or out-of-court, throughout Germany or internationally.<\/p>\n<p>[\/vc_column_text][vc_row_inner][vc_column_inner column_width_percent=&#8221;100&#8243; position_vertical=&#8221;middle&#8221; align_horizontal=&#8221;align_center&#8221; gutter_size=&#8221;3&#8243; style=&#8221;light&#8221; back_color=&#8221;color-682453&#8243; overlay_alpha=&#8221;50&#8243; shift_x=&#8221;0&#8243; shift_y=&#8221;0&#8243; shift_y_down=&#8221;0&#8243; z_index=&#8221;0&#8243; medium_width=&#8221;0&#8243; mobile_width=&#8221;0&#8243; width=&#8221;1\/1&#8243; uncode_shortcode_id=&#8221;984923&#8243; back_color_type=&#8221;uncode-palette&#8221; link_to=&#8221;url:https%3A%2F%2Fweisswert.de%2Fwp-content%2Fuploads%2F2022%2F03%2FPM_2022_03_15_WEISSWERT_English.pdf|title:PM_2022_03_15_WEISSWERT_EN|target:_blank&#8221;][vc_custom_heading heading_semantic=&#8221;h6&#8243; text_size=&#8221;&#8221; text_transform=&#8221;uppercase&#8221; uncode_shortcode_id=&#8221;265221&#8243;]Download this Press Release as PDF[\/vc_custom_heading][\/vc_column_inner][\/vc_row_inner][\/vc_column][vc_column column_width_percent=&#8221;100&#8243; gutter_size=&#8221;3&#8243; back_color=&#8221;color-lxmt&#8221; overlay_alpha=&#8221;50&#8243; shift_x=&#8221;0&#8243; shift_y=&#8221;0&#8243; shift_y_down=&#8221;0&#8243; z_index=&#8221;0&#8243; medium_width=&#8221;0&#8243; mobile_width=&#8221;0&#8243; sticky=&#8221;yes&#8221; width=&#8221;1\/4&#8243; uncode_shortcode_id=&#8221;691528&#8243; back_color_type=&#8221;uncode-palette&#8221;][vc_empty_space empty_h=&#8221;3&#8243;][vc_row_inner][vc_column_inner column_width_percent=&#8221;100&#8243; align_horizontal=&#8221;align_center&#8221; gutter_size=&#8221;3&#8243; overlay_alpha=&#8221;50&#8243; shift_x=&#8221;0&#8243; shift_y=&#8221;0&#8243; shift_y_down=&#8221;0&#8243; z_index=&#8221;0&#8243; medium_width=&#8221;0&#8243; mobile_width=&#8221;0&#8243; width=&#8221;1\/1&#8243; uncode_shortcode_id=&#8221;133454&#8243;][vc_custom_heading heading_semantic=&#8221;h5&#8243; text_size=&#8221;&#8221; text_transform=&#8221;uppercase&#8221; uncode_shortcode_id=&#8221;156891&#8243;]Press contact[\/vc_custom_heading][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner column_width_percent=&#8221;100&#8243; align_horizontal=&#8221;align_center&#8221; gutter_size=&#8221;3&#8243; overlay_alpha=&#8221;50&#8243; shift_x=&#8221;0&#8243; shift_y=&#8221;0&#8243; shift_y_down=&#8221;0&#8243; z_index=&#8221;0&#8243; medium_width=&#8221;0&#8243; mobile_width=&#8221;0&#8243; width=&#8221;1\/1&#8243; uncode_shortcode_id=&#8221;170315&#8243; link_to=&#8221;url:https%3A%2F%2Fweisswert.de%2Flaw-firm%2Fheads%2Fmaximilian-weiss%2F|title:Maximilian%20Weiss&#8221;][vc_single_image media=&#8221;103743&#8243; media_width_percent=&#8221;100&#8243; uncode_shortcode_id=&#8221;159118&#8243; media_link=&#8221;url:https%3A%2F%2Fweisswert.de%2Flaw-firm%2Fheads%2Fmaximilian-weiss%2F|title:Maximilian%20Weiss&#8221;][vc_column_text uncode_shortcode_id=&#8221;311760&#8243;]<\/p>\n<h5><strong> Maximilian Weiss, LL.M. <\/strong><\/h5>\n<p><em> Attorney | Managing Director <\/em>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner column_width_percent=&#8221;100&#8243; align_horizontal=&#8221;align_center&#8221; gutter_size=&#8221;3&#8243; override_padding=&#8221;yes&#8221; column_padding=&#8221;2&#8243; style=&#8221;light&#8221; back_color=&#8221;color-682453&#8243; overlay_alpha=&#8221;50&#8243; shift_x=&#8221;0&#8243; shift_y=&#8221;0&#8243; shift_y_down=&#8221;0&#8243; z_index=&#8221;0&#8243; medium_width=&#8221;0&#8243; mobile_width=&#8221;0&#8243; width=&#8221;1\/1&#8243; uncode_shortcode_id=&#8221;167598&#8243; link_to=&#8221;url:https%3A%2F%2Fweisswert.de%2Fpress%2F|title:Press&#8221; back_color_type=&#8221;uncode-palette&#8221;][vc_custom_heading heading_semantic=&#8221;h6&#8243; text_size=&#8221;&#8221; text_transform=&#8221;uppercase&#8221; uncode_shortcode_id=&#8221;654540&#8243;]contact[\/vc_custom_heading][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner column_width_percent=&#8221;100&#8243; align_horizontal=&#8221;align_center&#8221; gutter_size=&#8221;3&#8243; override_padding=&#8221;yes&#8221; column_padding=&#8221;2&#8243; style=&#8221;light&#8221; back_color=&#8221;color-682453&#8243; overlay_alpha=&#8221;50&#8243; shift_x=&#8221;0&#8243; shift_y=&#8221;0&#8243; shift_y_down=&#8221;0&#8243; z_index=&#8221;0&#8243; medium_width=&#8221;0&#8243; mobile_width=&#8221;0&#8243; width=&#8221;1\/1&#8243; uncode_shortcode_id=&#8221;205460&#8243; link_to=&#8221;url:https%3A%2F%2Fweisswert.de%2Flaw-firm-1%2Fpeople%2F|title:People&#8221; back_color_type=&#8221;uncode-palette&#8221;][vc_custom_heading heading_semantic=&#8221;h6&#8243; text_size=&#8221;&#8221; text_transform=&#8221;uppercase&#8221; uncode_shortcode_id=&#8221;336856&#8243;]profile[\/vc_custom_heading][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row row_height_percent=&#8221;0&#8243; overlay_alpha=&#8221;50&#8243; gutter_size=&#8221;3&#8243; column_width_percent=&#8221;100&#8243; shift_y=&#8221;0&#8243; z_index=&#8221;0&#8243; top_divider=&#8221;arrow&#8221; uncode_shortcode_id=&#8221;305108&#8243;][vc_column column_width_percent=&#8221;100&#8243; gutter_size=&#8221;3&#8243; overlay_alpha=&#8221;50&#8243; shift_x=&#8221;0&#8243; shift_y=&#8221;0&#8243; shift_y_down=&#8221;0&#8243; z_index=&#8221;0&#8243; medium_width=&#8221;0&#8243; mobile_width=&#8221;0&#8243; width=&#8221;3\/4&#8243; uncode_shortcode_id=&#8221;169594&#8243;][vc_custom_heading [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":104872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99,143],"tags":[],"class_list":["post-109041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases","category-press"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wirecard scandal: Court paves the way for investors \u2013 auditor EY facing Germany\u2019s biggest mass action ever &#8212; WEISSWERT Rechtsanwaltsgesellschaft mbH<\/title>\n<meta name=\"description\" content=\"Wirecard scandal: Court paves the way for investors \u2013 auditor EY facing Germany\u2019s biggest mass action ever\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/weisswert.de\/en\/press-releases\/wirecard-scandal-court-paves-the-way-for-investors-auditor-ey-facing-germanys-biggest-mass-action-ever\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wirecard scandal: Court paves the way for investors \u2013 auditor EY facing Germany\u2019s biggest mass action ever &#8212; 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