Investors Keep $40M Fraud Suit Over Wirecard Deal In UK

Law360, London (May 4, 2021, 6:08 PM BST) -- An appeals court on Tuesday refused the rest of a challenge to England's jurisdiction to try a claim against two Indian businessmen accused of duping investors into selling their shares in a payments company before it was acquired by Wirecard. 

Three judges sitting for the Court of Appeal unanimously agreed that the fraud suit connected to the €325 million ($391 million) sale of the business to Wirecard AG should be heard in England. The decision follows a ruling by the same court that substantial elements of the alleged fraud took place in the U.K.

The judges were deciding whether the dispute...

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