Published on 23 Sep 2020 on Associated Press via Yahoo Finance
BERLIN (AP) — Shares in German payment service provider Wirecard AG plunged Thursday as the company announced it was postponing its delayed annual report yet again.
Wirecard's stock price plummeted by 50% on the Frankfurt exchange after the Munich-based company said it was informed by auditors that an escrow account containing 1.9 billion euros ($2.14 billion) didn't have the necessary certificate.
Chief executive Markus Braun said it was “currently unclear whether fraudulent transactions to the detriment of Wirecard AG have occurred.”