A German accounting firm affiliated with, but distinct from, Ernst & Young Global Ltd. won’t remain in a US investors’ suit over the collapse of Wirecard AG, a finance company that allegedly invented fictional escrow accounts worth €1.9 billion.
Ernst & Young GmbH Wirtschaftspruefungsgesellschaft lacks enough of a link to the US to be sued in federal court in Pennsylvania over its auditing of Wirecard, Judge Anita B. Brody said Thursday.
Source: Ernst & Young’s Germany Branch Escapes Wirecard Fraud Lawsuit
