LOS ANGELES, Aug. 10, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Wise Group plc, (“Wise” or the “Company”) (NASDAQ: WSE) investors of a class action on behalf of investors that bought securities between May 11, 2026 and July 23, 2026, inclusive (the “Class Period”). Wise investors have until September 29, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/wise-group-plc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Wise Group provides cross-border and domestic financial services.
The Wise Group class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) in order to have a successful debut on the NASDAQ, the defendants materially understated Wise Group’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 (ii) as a result, the defendants’ statements about Wise Group’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On June 1, 2026, before the market opened, Reuters published an article entitled “Fintech Wise’s shares fall on Belgian money-laundering investigation.” The Reuters article reported that “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 article added 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” and 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.” That same day, Wise Group allegedly filed a Form 6-K with the SEC, disclosing in part that “[w]e are currently working with the Brussels prosecutor to respond to queries about our business, as we routinely do with regulators and law-enforcement authorities.” On this news, the price of Wise Group’s U.S. listed shares fell more than 5% on June 1, 2026, nearly 5% further on June 2, 2026, and more than 7% further on June 3, 2026, according to the complaint.
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 allegedly reported, among other things, that “London-listed shares in fintech company Wise Group fell after U.S. regulators denied its application for a national trust bank license, citing deficiencies in its program to combat money laundering and terrorism financing” and 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. It cited long-standing deficiencies in anti-money laundering and countering the financing of terrorism at Wise U.S.” On this news, the price of Wise Group’s U.S. listed shares fell more than 6%, according to the complaint.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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