Wirecard’s vertiginous stock slide resumed on Monday morning, as the company admitted the missing €1.9bn (£1.7bn, $2.1bn) at the heart of its accounting scandal probably doesn’t exist.“There is a prevailing likelihood that the bank trust account balances in the amount of €1.9bn do not exist,” the German tech company said in a statement on Monday. German regulatory officials bought and sold Wirecard shares in ever higher volumes as the payments company edged towards collapse, the German government has revealed, prompting fresh criticism of the agency that polices finance. They deny wrongdoing. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.Faruqi & Faruqi, LLP also encourages anyone with information regarding Wirecard's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.Attorney Advertising. (Reporting by Huw Jones, editing by Louise Heavens)The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in AschheimWhat is DeFi and why is it the hottest ticket in cryptocurrencies?What to watch: Oil and stocks rise, Germany extends furlough scheme, Abbott tipped for UK roleScandal-ridden Wirecard lays off half its remaining staff in GermanyWhat you need to know about unicorn Ant Financial, potentially the largest IPO in historyLimited legal protection for COVID vaccine makers hampers EU dealsRaucous crowd in Singapore shows anger at China travel rulesWoman fined for hosting party during circuit breaker claims she had 'little choice' in decision to hold eventWomen Divorces Husband For Not Arguing With Her, Says She Is “Suffocated By His Love”ChromaDex to Present at the LD 500 Virtual Investor ConferenceMessi divorce: 'bombshell' fax signals end of era, legal fight at Barcelona‘We’re losing, dude, and we’re going to get really hurt’: Trump Jr believes father will be defeated by Biden, report saysWomen tend to feel worse about themselves after breakup sex, but men feel better Christopher Reinhard Bauer died from "natural causes" on July 27 at a hospital in the capital Manila and was later cremated, Menardo Guevarra told The payments company filed for insolvency at a Munich court saying that, with 1.3 billion euros ($1.5 billion) of … BERLIN (Reuters) - A technology team from Wirecard , the German payments company that collapsed in June, is joining a new digital innovation unit being set up by Berlin financial technology group finleap.The move by the six-strong team headed by Joern Leogrande, head of Wirecard's innovation labs, comes ahead of the formal opening of insolvency proceedings next month that are likely to lead to job losses at the Munich-based group.Leogrande will head a Corporate Innovation and Corporate Venture Building unit, said finleap, which runs a stable of 11 startups spanning banking, insurance and asset management. The case, The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Wirecard overstated its cash balances during the Class Period, falsely claiming €1.9 billion; (2) Wirecard overstated its financial results, including revenue and EBITDA; (3) Wirecard did not have adequate risk management or countermeasures; (4) Wirecard's auditor failed to audit the Company in accordance with applicable auditing principles; and (5) as a result, defendants' statements about Wirecard's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.Specifically, after a series of Company statements starting on June 18, 2020, it was revealed that Wirecard AG's auditor Ernst & Young stated that no sufficient audit evidence could be obtained regarding €1.9 billion in several trust accounts' cash balances included in the most recent consolidated financial statements.

The article further stated that "Munich prosecutors confirmed that Braun, Wirecard's former CEO, was arrested on suspicion of having inflated the digital payment company's balance sheet and sales through fake transactions in order to make it more attractive to investors and customers. On this news, Wirecard's WCAGY price fell from $58.50 per share on June 17, 2020 to a closing price of $1.74 on June 25, 2020: a $56.76 or a 97.02% drop. View daily, weekly or …