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DGAP-News: SCHIRP & PARTNER Rechtsanwälte mbB: WIRECARD: too many unanswered questions - German law firm Schirp & Partner demands the appointment of special auditor (deutsch)




21.10.19 17:12
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SCHIRP & PARTNER Rechtsanwälte mbB: WIRECARD: too many unanswered questions - German law firm Schirp & Partner demands the appointment of special auditor



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DGAP-News: SCHIRP & PARTNER Rechtsanwälte mbB / Schlagwort(e):


Rechtssache/Hauptversammlung


SCHIRP & PARTNER Rechtsanwälte mbB: WIRECARD: too many unanswered questions


- German law firm Schirp & Partner demands the appointment of special


auditor



21.10.2019 / 17:11


Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.



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Wirecard: too many unanswered questions -


German law firm Schirp & Partner Rechtsanwälte demands the appointment of


special auditor under section 142 of the German Stock Corporation Act



German fintech group Wirecard has failed to answer urgent questions raised


by the Financial Times, especially in recent articles published on Tuesday


and Wednesday last week. The Financial Times has unearthed documents that


seem to show 34 key clients of Wirecard's Dubai subsidiary, equivalent to


one quarter of Wirecard group's reported turnover and half its EBITDA for


fiscal year 2016, who as per the Financial Times' reporting have in part


ceased operations and in part could not confirm a business relationship with


the company. Wirecard has responded rather lamely to these allegations,


denying all impropriety but refusing to go into the details and state


specifically which particular allegation it considers untrue. Most


astonishingly, Wirecard has claimed that the 34 companies mentioned by the


Financial Times were "labels of customer clusters", each cluster aggregating


hundreds of individual genuine clients. This explanation has in itself


raised eyebrows around the globe and does not seem to satisfy common


financial reporting standards.



Wirecard has since then named KPMG as its own auditor to look into the


matter. Leading German lawyers feel that this is not nearly enough. Dr.


Wolfgang Schirp from Schirp & Partner Rechtsanwälte mbB in Berlin: "In the


current situation, an independent auditor is needed. Investors cannot


confide in someone who reports to the Wirecard board. Therefore, we are


assembling a group of investors to force the appointment of a special


auditor under section 142 of the German Stock Corporation Act. This special


auditor will independently examine the matter and report to shareholders. To


reach the quorum of 1/20 of Wirecard's capital needed under section 122 of


the German Stock Corporation Act, we welcome participation by as many


shareholders as possible".



For further information and for participation, please contact:


Dr. Wolfgang Schirp, Schirp & Partner Rechtsanwälte mbB,


Leipziger Platz 9, D - 10117 Berlin, Germany,


Tel. +49-30-3276170, Fax +49-30-32761717,


mail: schirp@schirp.com URL: www.schirp.com




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21.10.2019 Veröffentlichung einer Corporate News/Finanznachricht,


übermittelt durch DGAP - ein Service der EQS Group AG.


Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.



Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten,


Corporate News/Finanznachrichten und Pressemitteilungen.


Medienarchiv unter http://www.dgap.de



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893601 21.10.2019



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