6 Firms Vie For Class Counsel In Pa. Wirecard Stock-Drop Suit

Law360 (September 10, 2020, 4:49 PM EDT) -- Six legal teams asked a Pennsylvania federal judge for appointment to represent a proposed class of investors in a suit alleging insolvent German payment processor Wirecard AG hurt buyers of its American depositary receipts after it announced its books were overstated by more than $2 billion.

The six law firms, including Levi & Korsinsky LLP and Robbins Geller Rudman & Dowd LLP, asked U.S. District Judge Anita B. Brody to be named class counsel in motions filed Tuesday, with each contending its client might have the greatest financial stake in the matter.

Records show individual Wirecard investor Marco Foelske, who is...

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