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WiseTech Global's stock rose after a review cleared co-founder Richard White of fund misuse allegations, though he still faces insider trading probes.
WiseTech Global's stock rose nearly 4% to $70.60 after an external review by Herbert Smith Freehills and Seyfarth Shaw found no evidence supporting three remaining allegations against co-founder Richard White regarding misuse of company funds.
The review cleared White of claims involving personal expenses tied to individuals connected to the company, following earlier findings that exonerated him on five other matters.
Despite the clearance, White remains under investigation by ASIC and the Australian Federal Police over alleged insider trading during a share sale blackout period.
The company, founded in 1994 by White and Maree Isaacs, serves over 16,500 global logistics providers and has a market value of $23 billion.
Las acciones de WiseTech Global subieron después de que una revisión absolviera al cofundador Richard White de las acusaciones de uso indebido de fondos, aunque todavía enfrenta investigaciones de información privilegiada.