"Wirecard Crisis Escalates as Investors and Insolvency Administrator Sue EY for Billions"
Wirecard's insolvency manager has filed a lawsuit against the accounting firm EY, seeking 1.5 billion euros in damages for its alleged negligence in auditing the company's finances before its collapse in 2020. This legal action adds to a series of lawsuits EY is facing, including a recent investor suit demanding over 700 million euros. EY has not commented on the new lawsuit but has previously denied claims for damages related to Wirecard, which went bankrupt after revealing a 1.9 billion-euro discrepancy in its accounts attributed to fraud.