NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Wise Group plc (“Wise” or the “Company”) (NASDAQ: WSE) securities between May 11, 2026 to July 23, 2026, inclusive (the “Class Period”).
The Complaint alleges that Defendants failed to disclose to investors that: (1) in order to have a successful debut on the NASDAQ, Defendants materially understated Wise’s regulatory risks as a result of its materially deficient anti-money laundering efforts, as well as insufficient efforts to prevent the financing of terrorism; and (2) as a result, Defendants’ statements about Wise’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The Complaint alleges that on June 1, 2026, before the market opened, Reuters published an article entitled “Fintech Wise’s shares fall on Belgian money-laundering investigation.” The Complaint continues to allege that the article stated that Wise “London-listed shares fell by more than 10% on Monday on news that the Brussels Public Prosecutor’s Office is investigating its European entity in cases the prosecutor said reportedly involve more than half a billion euros ($582.5 million) in suspicious transactions.”
The Complaint continues to allege that the article stated that “[t]he prosecutor’s office said the investigation, which began last year and is nearing completion, concerns potential money laundering offences, with alleged links to fraud, corruption and drug trafficking.” The Complaint alleges that the article further stated that “[p]rosecutors are investigating whether Wise Europe’s services were used by international criminal organisations, and are currently finalising a direct summons before the criminal court.”
The Complaint alleges that on this news, Wise’s U.S. listed shares fell $0.67 per share, or 5.24%, to close at $12.10 on June 1, 2026. The Complaint continues to allege that the following day, they fell a further $0.56 per share, or 4.6%, to close at $11.54 per share on June 2, 2026. The Complaint further alleges that the next day, they fell a further $0.82 per share, or 7.1%, to close at $10.72 per share on June 3, 2026.
Investors who purchased or otherwise acquired shares of Wise should contact the Firm prior to the September 28, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
