backOn December 4, 2023, Eastern District of Pennsylvania Judge Anita Brody granted Ernst & Young GmbH Wirtschaftsprüefungsgesellschaft’s (“EY Germany”) Motion to Dismiss for lack of personal jurisdiction in the Wirecard AG securities litigation. Judge Brody had previously dismissed EY Germany for lack of personal jurisdiction, but then granted plaintiffs’ Motion for Reconsideration to allow for jurisdictional discovery and supplemental briefing on the issue of personal jurisdiction. We covered the prior orders in the December 9, 2022 and February 10, 2023 Bulletins. Judge Brody ruled that even after jurisdictional discovery, the plaintiffs had not established specific jurisdiction over EY Germany for the facts alleged in the complaint.
The case is In Re: Wirecard AG Securities Litigation, Case No. 2:20-cv-03326 (E.D. Pa. Dec. 4, 2023). The Plaintiffs are represented by Saxton & Stump, Seeger Weiss LLP, Robbins Geller Rudman & Dowd LLP, Hagens Berman Sobol Shapiro LLP, and Bornstein, Gewirtz & Grossman, LLC. EY Germany is represented by Williams & Connolly LLP. A copy of the Order is available here.