On February 9, 2023, District Court Judge Anita Brody issued an order in In Re: Wirecard AG Securities Litigation (E.D. Pa.) granting plaintiffs’ Motion for Reconsideration of her prior order dismissing Ernst & Young GmbH Wirtschaftsprüefungsgesellschaf (“EY Germany”) from the case due to lack of personal jurisdiction. That prior order was discussed in our December 9, 2022 Bulletin. Judge Brody agreed with plaintiffs’ argument that their request for jurisdictional discovery regarding the possible existence of contacts between EY Germany and EY U.S. was overlooked, causing a manifest injustice. The court ordered jurisdictional discovery and supplemental briefing on the issue of personal jurisdiction.

The case is In Re: Wirecard AG Securities Litigation, Case No.: 2:20-cv-03326 (E.D. Pa. Feb. 9, 2023). A copy of the Order is attached.