WiseTech Shares Surge as ASIC Drops Action Against Founder White

3-line summary

• Australia's securities regulator ASIC issued a 'no-action letter' after concluding its investigation into alleged share-trading issues involving WiseTech founder Richard White and two current employees, per Investing.com; a separate corporate-governance probe was also closed, with the same letter issued to WiseTech's head office. The regulator did not disclose why it dropped the matter; a probe of one unrelated individual remains ongoing.
• WiseTech (ASX: WTC) shares rose 5.2% to A$35.28 in Sydney trading (as of 02:26 GMT). White stepped down as CEO in October 2024 and relinquished his executive chair role in July 2026 amid media scrutiny over his personal conduct, which he denies; WiseTech develops logistics and supply-chain software, with its CargoWise platform as its flagship product.

This summary is our own processing of the source article; see the source link below for full context.