Wirecard Escapes Stock-Sale Fraud Claims Over Indian Deal

Law360, London (July 15, 2020, 7:58 PM BST) -- A London judge struck out a €33 million ($37 million) fraud suit against Wirecard AG on Wednesday, ruling that two investors' claims they were forced to sell their stock in a financial services company for a pittance had no "realistic prospect of success."

Judge Ross Cranson said that documents already submitted to the High Court show that Prashant Manek and Sanjay Chandi's claims that Wirecard was involved in a conspiracy to defraud them into selling their minority shares in an Indian payments and travel company for less than they were worth would fail at trial.

The two men sold their shares...

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