WiseTech shares suspended after profit allegations

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 …