WiseTech’s billionaire founder Richard White cleared of allegations by company review

Company's shares sink with revised revenue outlook in wake of former CEO's high-profile resignation last month

• Follow our Australia news live blog for latest updates
• Get our breaking news email, free app or daily news podcast

A company-ordered review into Richard White, the embattled billionaire founder of Australian software giant WiseTech, has cleared the former chief executive of bullying and intimidation allegations.

The law firms that reviewed a series of allegations against White, including alleged misuse of company funds, also concluded that their investigations had uncovered no impropriety", according to an update presented to shareholders on Friday.

Sign up for Guardian Australia's breaking news email