Ernst & Young Unit’s Wirecard Fraud Suit Victory Draws Appeal

US investors in the now insolvent financial-services company Wirecard AG are appealing a judgment for Ernst & Young Global Ltd.’s accounting affiliate in Germany on claims the auditor failed to catch a €1.9 billion fraud.

The investors, who sued the affiliate on behalf of a proposed class, notified the US District Court for the Eastern District of Pennsylvania March 1 that they’re taking the case to the US Court of Appeals for the Third Circuit.

• Lead plaintiffs Thanh Sam and Lawrence Gallagher alleged Wirecard was able to perpetrate a scheme involving fictional escrow accounts only with the auditor’s complicity ...