This Month
ASIC signs $10m contract extension with Nuix
The Australian Securities and Investments Commission agreed to a three-year extension with Nuix despite pursuing the company in the Federal Court.
- Amelia McGuire
April
Insufficient evidence to charge Nuix boss with insider trading: ASIC
The regulator has closed its probe into chief executive Jonathan Rubinsztein, whose share purchase coincided with a US company’s approach about an asset sale.
- Nick Bonyhady
December 2023
Inside the frantic months after Nuix hit the ASX – and the skids
Now the subject of legal action by the regulator, new details show what was going on at the top of a hot tech stock which crashed back to earth.
- Jessica Sier
Morgan Stanley was warned about ‘unusual’ Nuix targets in 2020
The investment bank was a co-lead manager for the software company’s disastrous 2020 float, shortly after which Nuix said it would not meet its forecasts.
- Jessica Sier
Directors expected Nuix to make up lagging performance, court told
Nuix directors relied on performance data from management, which indicated the tech stock would get itself out of trouble in time to hit prospectus guidance.
- Jessica Sier
Nuix share slump should have sparked concern about forecasts: ASIC
In its closing arguments in the long-running dispute, the regulator says directors must have known that the market did not believe they would hit targets.
- Max Mason
Ex-Nuix chair was in ‘state of shock’ after share price slump
Jeffrey Bleich said he was convinced by management that the firm could turn itself around and that is why they did not disclose its poor performance to investors.
- Jessica Sier
Nuix director concedes he didn’t read board papers
Iain Lobban told the Federal Court he largely relied on others on the board and management when considering what should be disclosed to investors.
- Jessica Sier
November 2023
ASIC witness concedes ground on Nuix accounting forecasts
ASIC’s accounting expert said that annualised contract value – the measure by which Nuix records much of its performance – was an imperfect measure.
- Jessica Sier
ASIC’s advice was ‘in the teeth’: Nuix
It has claimed public guidance provided by the Australian Securities and Investment Commission around disclosure contradicts the case brought by the corporate regulator.
- Jessica Sier
Disappointing Nuix kept quiet after $1.8b float
Nuix has been accused of misleading the market by not divulging a failure to meet financial targets presented during its $1.8 billion IPO.
- Jessica Sier
September 2023
Tax authorities visit Nuix to secure files in pre-IPO claims probe
A presentation prepared by Macquarie months before its float said the company needed to maintain a low tax rate to prevent a “negative impact on the valuation”.
- Neil Chenoweth and Jessica Sier
August 2023
Brother of Nuix CFO had swipe card for office before share sales
Former Nuix CFO Stephen Doyle’s brother Ross was working out of the company’s head office when he raised $17.8 million in share sales, Senate inquiry told.
- Neil Chenoweth
ASIC secretly investigated Macquarie over conflict of interest claims
The regulator found “no evidence” of inappropriate activity relating to the Nuix IPO, it has said in a submission to a Senate inquiry.
- Neil Chenoweth
Nuix boss has ‘nothing to hide’ as shares fall 12pc
Jonathan Rubinsztein has defended his purchase of shares amid a possible takeover discussion, as the investigation software company narrowed losses for the year.
- Jessica Sier
June 2023
ASIC ‘addicted’ to secrecy, parliamentary committee claims
A Coalition-dominated committee claims ASIC has attempted to undermine an inquiry into the regulator’s performance.
- Patrick Durkin
Nuix board split under insider trading cloud
At least one director was up in arms that the Nuix CEO had been permitted to buy stock while a takeover discussion with US-based software player Reveal was under way.
- Updated
- Jessica Sier
May 2023
ASIC looking into first date Nuix takeover offer was raised
Sources say discussions between Nuix and Reveal regarding a potential takeover happened at least two days before when Nuix publicly said it was.
- Jessica Sier
Nuix boss Rubinsztein under investigation by ASIC for share purchase
ASIC is investigating Nuix boss Jonathan Rubinsztein regarding his trades last year.
- Jessica Sier
February 2023
ASIC ready to dump Nuix
The corporate regulator is expected to drop the software platform as concerns rise over Nuix’s cash burn and client defections.
- Updated
- Neil Chenoweth
