Australian logistics software company WiseTech, which acquired e2Open earlier this year, is facing a possible insider trading probe involving founder Richard White. The Australian Securities & Investments Commission and police raided WiseTech’s office in Sydney for documents related to White’s stock trading.

WiseTech stock has plummeted over the past year, trading at less than half its value a year ago. White previously resigned as CEO due to “inappropriate behavior” but returned as executive chairman in February. The e2Open acquisition closed in August, adding to WiseTech’s portfolio of logistics software providers.

E2Open was acquired for $2.1 billion, a 28% premium over its stock price prior to the acquisition announcement. Morningstar predicts a significant impact on WiseTech if White is ousted, with the potential for a 15-20% reduction in the company’s estimated value. The likelihood of White’s departure due to the probe is considered small.

Morningstar analyst Roy Van Keulen believes that if White were to leave WiseTech again, it would lead to a decrease in growth and business progression. The company could see a reduction of 15-20% in its estimated value. Despite these concerns, the chances of White being forced out due to the stock trading probe are deemed low.

Read more at Yahoo Finance: New e2open owner WiseTech rocked by police search tied to founder White