Stock

Australian lawsuit involving billionaire WiseTech CEO is settled

SYDNEY (Reuters) – A legal battle between the Australian CEO of logistics software maker WiseTech and a woman reported by local media to be his former lover has been settled, a court filing showed, ending a saga which has punished the company’s share price.

Richard White, who is also the founder and biggest shareholder of WiseTech was being sued by wellness entrepreneur Linda Rogan who was fighting efforts to declare her bankrupt.

The ensuing lawsuit resulted in a host of personal allegations being reported by Australian media involving White, who is worth A$10 billion ($6.7 billion) and is Australia’s 11th richest person according to the Australian Financial Review, as well as a one-fifth decline in WiseTech shares this month.

On Monday, WiseTech said its board was looking into the media reports about White. Later that day, Rogan’s lawsuit had been withdrawn and the case was listed as “finalised”, according to the federal court website.

A spokesperson for WiseTech was not immediately available for comment, while lawyers for White and Rogan also were not immediately available for comment.

Shares of WiseTech were trading 3.5% higher by midafternoon, against a weaker overall market.

($1 = 1.4981 Australian dollars)

This post appeared first on investing.com

You May Also Like

Editor's Pick

Sen. JD Vance (R-Ohio) and Minnesota Gov. Tim Walz (D) will face off Tuesday night at a CBS News vice-presidential debate in New York....

Latest News

A North Korean defector who escaped to the South more than a decade ago was detained after attempting to cross back into North Korea...

Economy

A U.N. human rights group confirmed Hamas’ leader in Lebanon, who was recently killed by Israeli strikes, was their employee.  Fateh Sherif was killed...

Investing

Astron (ASX:ATR) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) have completed the establishment of a joint venture to advance the Australia-based Donald rare earths and mineral sands...

Disclaimer: balanceandcharge.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 balanceandcharge.com

Exit mobile version