The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Wise Group plc (“Wise” or the “Company”) (NASDAQ: WSE) common stock between May 11, 2026 and July 23, 2026, inclusive (the “Class Period”). Wise Group plc investors have until September 29, 2026 to file a lead plaintiff motion.
IF YOU SUFFERED A LOSS ON YOUR WISE GROUP INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.
You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at info@frankcruzlaw.com, by telephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com.
What Happened?
On May 11, 2026, Wise issued a press release entitled “Wise debuts US listing on Nasdaq.” This On June 1, 2026, before the market opened, Reuters published an article entitled “Fintech Wise’s shares fall on Belgian money-laundering investigation.” The article stated that “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 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.”
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, thereby injuring investors.
Then, on July 24, 2026, The Wall Street Journal published an article entitled “Wise Group Shares Drop After U.S. Regulator Denies License on Shortcomings.” The article stated in part that “U.S. regulators denied [Wise Group’s] application for a national trust bank license, citing deficiencies in its program to combat money laundering and terrorism financing.” The article continued that: “[t]he Office of the Comptroller of the Currency said in its rejection letter that Wise’s application presented significant supervisory and compliance concerns.”
On this news, Wise U.S.-listed shares fell $0.75 per share, or 6.2%, to close at $11.33 per share on July 24, 2026, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that between May 11, 2026 and July 23, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) in order to have a successful debut on the NASDAQ, defendants materially understated Wises 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 Wises business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Contact Us To Participate or Learn More:
If you purchased Wise common stock, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at:
Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Century City, CA 90067
Telephone: 310-914-5007
Email: info@frankcruzlaw.com
Visit our website at: www.frankcruzlaw.com
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260806423102/en/
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