The numbers that spelt trouble for Nuix IPO
Just which Nuix accounts is ASIC investigating? There were so many.
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Directors of former glamour tech stock Nuix were still reeling after Australian Federal Police raided its Sydney head office on June 24 as part of an insider trading investigation when they learnt they faced a more immediate crisis.
At 11.35 that Thursday morning when the Nuix board told the ASX of the raid, they described it as an “investigation into the affairs of an individual”, concluding rather smugly: “Nuix understands that the warrant does not relate to any allegation of wrongdoing by the company.”
Nuix turmoil throws spotlight on Macquarie
Fresh details have emerged of the bankâs role in the tech companyâs IPO, amid a witch-hunt to find the source of internal leaks.
Nuix was the hottest IPO of 2020. Today the share price is down 70 per cent from January and the company is conducting a hunt for leakers.
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May is the golden month for Macquarie Group, when it celebrates its yearly results and quietly rewards its brightest stars with seven- and eight-figure bonuses amid general acclaim. This year, not so much.
Instead of a victory lap, Macquarie is facing uncomfortable questions about the windfall profits it made when it listed glamour tech company Nuix last December.
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