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An email from Nuix's former CFO that referred to financial results as “worse than terrible” was an attempt to push the sales team to meet targets, a trial court has heard in a class action alleging misleading market disclosures ahead of the software firm's $1.8 billion IPO.
A failure by software firm Nuix to meet internal budgets ahead of its $1.8 billion IPO in 2020 was the result of “ambitious targets” to incentivise the company's sales staff, a court was told Tuesday.
Macquarie Capital has taken aim at the expert evidence of a shareholder class action over Nuix's IPO, saying it was "completely inadmissible" because the expert had answered legal questions that fell outside his expertise.
Hitting back at trial in a shareholder class action, software company Nuix has told a judge it was “completely unfounded” to allege auditor PwC did not push back on management’s claims about its budget.
A shareholder class action against Nuix is the first to test statutory due diligence defences available under the Corporations Act, a court heard Tuesday, when the class action took the court to internal emails describing the company as "tragically hopeless" at winning new business.
A shareholder class action against Nuix has argued that its IPO should never have gone ahead, taking the court to email exchanges about its history of disappointing results, which the tech company's former CFO called "worse than terrible".
People don't read terms and conditions when signing up to online services, an appeals court judge has told trading platform Plus500, which says the applicant in a class action is bound by an arbitration clause in its user contract.
The competition regulator has given its draft approval to Fortnite maker Epic Games and Google for their global settlement of allegations of misuse of market power by the digital giant.
A judge has allowed a "painfully slow" competition class action against Sony over its PlayStation store practices to file an amended pleading, after expressing concerns the case was not properly resourced.
A judge has ordered a class action against Fitch to fork over $12.4 million in security, refusing to discount the sum for what the class action called the company's 'Rolls-Royce' defence.