Wirecard Denies Ex-Shareholders Stock-Sale Fraud Claims

Law360, London (November 22, 2019, 4:07 PM GMT) -- Wirecard has fought back against a €33 million ($36.5 million) fraud suit brought by two investors who say they were forced to sell their stock in a financial services company for a pittance compared to the price the German payments provider later paid for the shares.

The investors, Prashant Manek and Sanjay Chandi, “fail to identify any individual employed by Wirecard ... who allegedly acted dishonestly," Wirecard said in a defense filing at the High Court on Wednesday.

Wirecard said the suit asks the court to infer that information provided to the payments provider and its lawyers during the due diligence process...

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