Ex-Shareholders Say Wirecard Ignored Stock Sale Fraud

Law360, London (September 20, 2019, 7:56 PM BST) -- Two investors have sued Wirecard AG for €33 million ($36.3 million), expanding their London legal fight claiming they were intimidated into selling their stock in a financial services company just before it was sold to the German payments provider for a windfall. 

Prashant Manek and Sanjay Chandi filed the lawsuit against the German online payments company at the High Court on Wednesday, claiming they were strong-armed into selling their shares in Hermes i-Tickets Private Ltd., a money transfers and insurance payments company. 

The businessmen, along with their retail company, claimed Wirecard didn't start the conspiracy, but looked away when they sold their shares in Hermes to an Indian company for...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS