ACCC Raids WiseTech Global over Alleged Competition Law Breaches
WiseTech said it will cooperate as the watchdog investigates alleged competition law breaches, after the company’s shares dropped about 11% to $38.58.
- On Wednesday, the Australian Competition and Consumer Commission executed a search warrant on WiseTech Global for documents related to logistics software supply, causing shares to tumble more than 12%.
- This regulatory action marks the first aimed directly at WiseTech rather than founder Richard White, who faces separate investigations by the Australian Federal Police and the Australian Securities and Investments Commission.
- The Australian Federal Police previously launched an investigation into White over allegations he coerced a former cleaner into a relationship and provided false information for a visa; he "strenuously and unequivocally" denies these claims.
- Wednesday's tumble puts WiseTech on course for its steepest one-day decline since late June, with the stock remaining nearly 70% below its 2024 peak amid years of controversy.
- Operating across 193 countries, WiseTech serves about 22,000 logistics firms and recently appointed Raelene Murphy as independent chair, while White transitioned to an executive director role.
17 Articles
17 Articles
ACCC raids WiseTech Global over alleged competition law breaches
Save (0) Please login to bookmarkClose Username or Email Address Password Remember Me The competition regulator has executed a search warrant on software firm WiseTech Global as part of an investigation into alleged competition law breaches, the company said Wednesday. Subscribe to Lawyerly to access this article.Already a subscriber? Username or Email Address Password Remember Me Lost your password? The pos…
Australia executes search warrant on WiseTech for documents, shares ...
Coverage Details
Bias Distribution
- 54% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
















