SoftBank planning to sue Wirecard auditor EY over collapse scandal

Separately, German magazine Der Spiegel reported that Japanese investor SoftBank was planning to sue Wirecard’s long-time auditor EY over the scandal. EY said the hole in the company’s books was the result of a sophisticated global fraud. Allegations of financial impropriety have swirled around Wirecard for years and its implosion has triggered calls for an overhaul of corporate supervision. BaFin boss Felix Hufeld has described the scandal as a “total disaster”. ESMA confirmed it had been asked to look at how BaFin enforced the EU’s transparency directive, which covers financial reporting requirements for listed companies.

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