Wirecard intends to cooperate with Prosecutor's office | economic

in The case of Wirecard unsettled investors. The shareholders ' Association DSW reports as many requests as to times of the New market. Because around the paym

Wirecard intends to cooperate with Prosecutor's office | economic

in The case of Wirecard unsettled investors. The shareholders ' Association DSW reports as many requests as to times of the New market. Because around the payment processor, there are always negative headlines.

Aschheim (dpa) - The because of suspicion of false information to investors to the attention of the Munich Prosecutor's office granted the existence of Dax-listed company Wirecard promises to cooperate with the investigators.

"All of the authorities in the context of the search requested data were made available at short notice," it says in a statement that the payment processor has published on its website. Further public statements do not want to give the management Board and the Supervisory Board, because it was an ongoing process.

The cooperation promise comes against the Backdrop of months-long allegations of lack of transparency and availability of Information. The Prosecutor's office of Munich I, had initiated following a complaint by the financial Supervisory authority Bafin the investigations against the four Wirecard-Executive Board members - including CEO Markus Braun and the company headquarters in the Munich suburb of Aschheim browse.

This goes to the question of whether the payment service provider has published two mandatory stock exchange notices in March and April of misleading information for investors. In these two messages, Wirecard had declared a special examination of the annual financial statements for 2016, 2017 and 2018 by the auditing firm KPMG, have to date had no evidence of balance-sheet manipulations.

in fact, KPMG had declared controller in your at the end of April-completed report, but that you will not be able to elucidate essential issues in the absence of documents. The trigger for the special audit, a series of Reports in the British "Financial Times", which accused the company of Manipulation in the balance sheets was. KPMG-auditor defendant several times in their report that Wirecard had supplied the information late or not at all.

large shareholders, such as the DWS, the investment subsidiary of Deutsche Bank - have warned in the past, better Information. Currently not wanted to comment on the DWS, the company has reduced its share of Wirecard however, in the past few weeks. Investors pushed the papers teisl strong: your initial significant decrease of more than seven percent on Monday, Wirecard have reduced shares in the further course of trading.

Among investors prevails because of the turmoil of great excitement. "We are inundated with requests, we have not experienced since the times of the New market," said Marc Tüngler, managing Director of the shareholder Association DSW. "The reactions are highly emotional."

Wirecard is involved in a number of respects in legal disputes, both criminal and civil law. The Munich public Prosecutor's office, not only against company boss brown and his colleagues on the Board, but is examining possible market manipulation by market speculators. In addition, legal actions are civil on the one hand, Wirecard has sued the Financial Times for their coverage, on the other hand, there are lawsuit threats and announcements by shareholders against Wirecard.

To DSW General Manager Tüngler said: "The most Important thing in this Situation is: How do you calm it?" The fastest growing group has also submitted, as before, no financial statements for the year 2019, this should be on 18. June will be rescheduled. So far, the attestation of the auditors is missing EY. The auditors should issue an unqualified opinion, will increase the pressure on the chief Executive officer of brown, which was already faced with calls for his resignation.

The shareholders ' Association wants to pour no more Oil on the fire, open the case, additional complications but options: "We as a DSW want to first of all, the submission of the audited Figures on March 18. June, wait and then decide how we are positioning ourselves at the annual General meeting," said Tüngler. "Decisions on a special audit as well as possible actions are not taken in the DSW still."

Wirecard the company handles for the merchant and consumer payments to load funds or in Online Shops - self wants to spread optimism: "The company is confident that the facts will clear up and the allegations prove to be unfounded", - stated in the short opinion. Impact on the business will not have the investigation, according to the Wirecard Board of Directors: It confirmed the goal of an operating profit of 1 to 1.12 billion euros this year.

Wirecard-communication

Updated Date: 08 June 2020, 21:33

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