WiseTech shares suspended after profit allegations

October 17, 2019 Gavin van Marle

Australian freight software developer WiseTech Global suspended trading in its shares on the Australian Stock Exchange (ASX) after it was accused by financial analyst J Capital of overstating its profits. Considered to be part of series of attacks by short-sellers on listed Australian companies, the research firm alleged: “We have spent months analysing the company and concluded that WiseTech is manipulating its accounts to make growth and profit appear higher ...

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