Wirecard Investors Sue Bafin Over Failure to Spot Scandal
- Law firm Tilp files in Frankfurt, seeks class-action status
- BaFin failed to warn about Wirecard disaster, lawyer claims
The BaFin logo sits on a sign outside the German financial regulator's headquarters in Frankfurt.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Germany’s BaFin was sued by Wirecard AG investors who say the regulator turned a blind eye widespread evidence of an accounting scandal that led to the company’s collapse.
Lawyer Andreas Tilp, who filed the suit in Frankfurt, said the regulator should have been aware of the financial problems engulfing the payments processor early last year.