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Nuix ‘confident’ amid ASIC probe
The ASX-listed tech company says it remains confident that it has complied with accounting and disclosure obligations, amid an investigation by the corporate watchdog.
Emma Musgrave
In late June, Nuix became aware of an application made by ASIC concerning an investigation in relation to former CFO Stephen Doyle, Ross Doyle and Ronald Doyle. Stephen Doyle’s employment at Nuix was terminated on 15 June.
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Further, Nuix also confirmed that ASIC’s Financial Reporting and Audit Enforcement Team (FRAET) was commencing a separate investigation “into the affairs of Nuix, specifically, suspected contraventions of sections 296, 344 and 1308 of the Corporations Act in relation to the financial statements of Nuix for the periods ending 30 June 2018, 30 June 2019 and 30 June 2020 lodged with ASIC and sections 1308 and 1309 of the Corporations Act, in relation to the Initial Public Offering Prospectus lodged by Nuix with ASIC and with the ASX”.
At the time, Nuix cited it was not aware “of the precise nature of the investigation” though noted it would fully assist ASIC in its work.
On Tuesday (10 August), Nuix released an update to the market confirming it had “come to a fuller understanding” of the nature of the investigation “through ASIC notices issues to PwC...concerning potential contraventions of the Corporations Act”.
“Nuix understands that ASIC’s investigations relevantly concern: the financial statements of Nuix Limited for the period ending 30 June 2018, 30 June 2019 and 30 June 2020; Nuix’s prospectus dated 18 November 2020; and, Nuix’s market disclosure in the period between 4 December 2020 to 31 May 2021,” Nuix said.
“Nuix has not received any formal notification of an investigation from ASIC and remains confident that it has complied with its accounting and disclosure obligations.”
