Germany’s Commerzbank sues EY for Wirecard losses

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Reuters UK

FRANKFURT (Reuters) – The German lender Commerzbank is suing accounting firm EY over the 200 million euros ($216.12 million) in losses that it incurred in the collapse of Wirecard, a bank spokesperson said on Thursday. Wirecard’s downfall two years ago shook the German business establishment, putting politicians who had backed it under intense scrutiny, along with regulators that took years to investigate allegations against the payments company. EY was for years the firm that audited and certified Wirecard’s books even as journalists and investors raised questions about its finances. The Comm…

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