Wirecard shares slump on disclosure over KPMG investigation
Shares of Wirecard WDI, -15.38% slumped 16% in early trade after saying a KPMG special investigation did not have all the data necessary to prove the revenue in the Third Party Acquiring business.
The digital payments firm continued to maintain it will not have to restate its results from 2016 to 2018, and said it will publish the KPMG report soon, which made no"substantial" findings. Wirecard said KPMG has identified documentation and organizational weaknesses during the audit period, which it said had already been identified by Wirecard. Wirecard also delayed the publication of its annual report, and said the KPMG report will be made available shortly.
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