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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. ....
In its closing arguments for the long-running dispute, the regulator says directors must have known that the market did not believe they would hit targets. ....
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. ....
Iain Lobban told the Federal Court he largely relied on others on the board and management when considering what should be disclosed to investors. ....