SYDNEY (Reuters) – A legal battle between the Australian CEO of logistics software maker WiseTech and a woman believed by local media to be his former lover has been settled, a lawsuit shows, ending a saga that has hit its share price of the company has penalized.
Richard White, also the founder and largest shareholder of WiseTech, was sued by welfare entrepreneur Linda Rogan, who fought attempts to declare her bankrupt.
The subsequent lawsuit resulted in a host of personal accusations by the Australian media involving White, who is worth $10 billion and is Australia’s 11th richest person, according to the Australian Financial Review. WiseTech shares this month.
On Monday, WiseTech said the board was looking into media reports about White. Later that day, Rogan’s lawsuit was dropped and the case was listed as “concluded,” according to the federal court website.
A spokesperson for WiseTech was not immediately available for comment, while lawyers for White and Rogan were also not immediately available for comment.
Shares of WiseTech were trading 3.5% higher at mid-afternoon, against a weaker overall market.
($1 = 1.4981 Australian dollars)
(Reporting by Byron Kaye; Editing by Lincoln Feast.)