WiseTech Global failed to tell investors that it was falling short of aggressive earnings targets after acquiring poorly performing businesses, a law firm has alleged in a class action against the logistics software group.
Phi Finney McDonald, in documents filed with the Supreme Court of Victoria, said the company had several opportunities to update guidance issued to shareholders in August 2019 but did not.
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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
