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Markets live updates: WiseTech shares plunge on ACCC raid, ASX falls for sixth day in a row
The competition watchdog has executed a search warrant on WiseTech Global, sending shares in the logistics software firm plunging.
The Australian share market has fallen for its sixth consecutive day, following another weak session on Wall Street.
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And financial intelligence agency AUSTRAC has made hundreds of referrals to authorities in connection with an investigation that has uncovered what the regulator is calling 'coordinated mortgage fraud.’
ACCC raids WiseTech Global, sending shares into steep descent
Officials from the competition regulator have raided the offices of WiseTech Global in a search for documents and electronic data to help assess whether the global logistics software giant breached consumer laws.
WiseTech told investors on Wednesday that a search warrant had been executed as part of an Australian Competition and Consumer Commission investigation, but did not provide details. Shares slumped 11 per cent after the announcement to $38.34 in afternoon trading.
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