Wirecard shares sink 25% after KPMG's report

Tuesday, 28. April 2020 15:43

Stocks of Wirecard AG plunged almost 25% on Tuesday shortly after auditing company KPMG International Cooperative published its special investigation report regarding allegations that the German firm was involved in financial fraud.

The report found no evidence that Wirecard was manipulating its balance sheet in any of the four areas of the audit, therefore KPMG ended the investigation which started last year. However, due to some missing third-party related data, KPMG was unable to provide full details on Wirecard's financials.

Wirecard's shares sank 25.65% to sell for €98.20 at 3:39 pm CET.

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Breaking the News / ND