WiseTech Global (ASX:WTC) is under formal investigation by the Australian Securities and Investments Commission over founder and Chief Executive Richard White's share trading during a blackout period and the company's handling of market disclosures related to misconduct allegations, according to a Thursday report by the Australian Financial Review.
The ASIC is looking into whether White engaged in insider trading by selling about AU$229 million worth of shares between Dec. 24, 2024, and Feb. 19, a period when WiseTech's trading policy forbade such transactions ahead of its earnings release, the report said.
The probe also includes scrutiny of whether WiseTech met its continuous disclosure obligations during a turbulent period marked by internal investigations into White's conduct, the report added.
WiseTech and ASIC did not immediately respond to MT Newswires' request for comment.
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