Overview

• Peter Mattil resigned as lead plaintiff's counsel in the Wirecard pattern case, citing irreconcilable differences over legal strategy with co-counsel Elmar Vitt.
• Berlin-based lawyers Wolfgang Schirp and Marc Liebscher have been appointed to replace Mattil, while Elmar Vitt remains responsible for overall strategy and settlement planning.
• The February 2025 ruling by the Bavarian Higher Regional Court excluded Ernst & Young (EY) from the KapMuG process, requiring thousands of individual lawsuits unless overturned.
• The Federal Court of Justice (BGH) is expected to rule later this year on whether the KapMuG framework applies to claims against EY, a decision that will determine the case's future trajectory.
• The litigation consolidates over 8,700 lawsuits and 19,000 claims by investors seeking compensation for losses tied to Wirecard’s 2020 collapse.