Federal Court Dismisses EY in Wirecard Case, Clearing Path for Civil Suits

The Federal Court of Justice (BGH) has declared the investor model proceedings against EY inadmissible, confirming a decision by the Bavarian Higher Regional Court. The court found that EY's audit opinions for Wirecard didn't qualify as "capital information" under the applicable law. This verdict effectively ends the model proceedings against EY.

Attorneys Dr. Wolfgang Schirp, Dr. Susanne Schmidt-Morsbach, and Dr. Marc Liebscher welcome this clarity. They plan to quickly resume civil proceedings in Munich courts, offering hope for rulings against EY. According to Dr. Schirp, this outcome helps prevent further capital flight.

The decision emphasizes EY's liability in cases of intentional misconduct only. Dr. Liebscher remains confident, citing strong evidence against EY. Aggrieved investors now have three months to file individual lawsuits to protect their claims.