The Australian Securities & Investments Commission (ASIC) reported that the Federal Court dismissed its proceedings against Nuix Limited, rejecting allegations that the company breached continuous disclosure obligations and misled investors when it reaffirmed financial forecasts in early 2021 after its December 2020 IPO. The Court also dismissed ASIC’s claims against Nuix’s board for alleged breaches of directors’ duties, including failing to take reasonable steps to prevent misleading statements and continuous disclosure breaches. ASIC said it will consider the judgment and has 28 days to file a notice of appeal to the Full Federal Court.
Australian Securities & Investments Commission 2026-04-23
Australian Securities & Investments Commission loses Federal Court case against Nuix over continuous disclosure and forecast statements
The Australian Securities & Investments Commission reported that the Federal Court has dismissed its proceedings against Nuix Limited, rejecting allegations of breaches of continuous disclosure obligations and misleading investors in relation to reaffirmed financial forecasts following its December 2020 IPO. The Court also dismissed ASIC’s claims that Nuix’s board breached directors’ duties by failing to prevent misleading statements and continuous disclosure breaches.