ASIC drops Richard White insider trading probe
- ASIC ended its insider trading probe into WiseTech Global co-founder Richard White and two company employees.
- WiseTech Global shares were down at $33.55 following the update, having fallen from around $130 prior to recent executive conduct issues.
- Regulators are continuing an investigation into a fourth unnamed individual associated with the logistics software group.
The Australian Securities and Investments Commission has discontinued its insider trading investigation into WiseTech Global (ASX:WTC) co-founder Richard White and two of the software firm's staff.
The enquiry began after reports revealed that White sold over 1.8 million company shares for roughly $229 million during a blackout period between December 2024 and February 2025.
ASIC confirmed it concluded investigations into three individuals without action, stating, "ASIC’s investigation in relation to alleged share trading by one individual remains ongoing."
A fourth individual remains under regulatory scrutiny following an October search of the software company's headquarters.
White maintains a stake of over one-third in the business despite stepping down as CEO during the regulatory probe.
Following the announcement, the WiseTech Global share price was down at $33.55.
White also faces a separate ongoing investigation by the Australian Federal Police regarding personal conduct allegations.
Separately, WiseTech Global faces a regulatory enquiry from the Australian Competition and Consumer Commission regarding the supply of global logistics software services.
