WiseTech Global said Australia's competition regulator executed a search warrant for documents related to the supply of global logistics services and software, sending the logistics software provider's shares down more than 12% to A$38.05 and putting them on course for their steepest one-day drop since late June. The company said it would fully cooperate with the investigation by the ACCC, while neither WiseTech nor the regulator gave details on the documents being sought. The development adds to pressure on WiseTech after the stock plunged nearly 20% on June 22 following reports that the Australian Federal Police were investigating Richard White over allegations that he exploited a woman's immigration status for sex and provided false information in a visa application. WiseTech said at the time that the alleged investigation concerned White in his personal capacity and that it was unaware of any investigation as outlined in media reports. White said he "strenuously and unequivocally" denied the media allegations. He stepped down as CEO in October 2024 but remained executive chairman until July 2026, and the stock has lost nearly 70% of its value since allegations about his personal life first surfaced in late 2024.