Legal Battle Settled

SYDNEY (Reuters) – A legal dispute involving Richard White, CEO of logistics software maker WiseTech, and Linda Rogan, reportedly his former lover, has been settled, as indicated by a court filing. This conclusion brings an end to a situation that significantly affected WiseTech's share price.

Richard White, who is also the founder and largest shareholder of WiseTech, faced a lawsuit from wellness entrepreneur Linda Rogan, who was contesting attempts to declare her bankrupt.

The lawsuit prompted numerous personal allegations against White, who is valued at A$10 billion ($6.7 billion) and is considered Australia's 11th richest person by the Australian Financial Review. Consequently, WiseTech shares fell by one-fifth this month alone.

On Monday, WiseTech announced its board was investigating the media claims concerning White. However, later that day, Rogan's lawsuit was withdrawn, and the matter was officially marked as 'finalised' by the federal court.

A spokesperson for WiseTech was unavailable for comment, and representatives for both White and Rogan could not be reached immediately.

As of midafternoon, WiseTech shares experienced a 3.5% rise, in contrast to a weaker overall market.

> Note: ($1 = 1.4981 Australian dollars)