Hardly surprising .....its just bad news on top of bad news for this smouldering wreck.
The documentation lodged in the federal court around this options claim case has sealed it for me.....ie sealed my suspicion that Nuix was a pretty loose unit long before it was even listed (when it was 100% Macquarie owned).....then at listing.....then ever since.
It reminds me of those safety labels and signs you sometimes see like this :
Macquarie must have known that Nuix was fundamentally unfit for a stock market listing ..... all sorts of loose ends, unresolved issues, shoddy record keeping and dodgy practices....but they let the marketing machine run with it and listed it in Dec 2020 anyway.
Now the NXL accounts are heaving under the weight of legal costs .....the origins of which were sown in those oh so loose Macquarie days.
A Bloody Disgrace.
NXL Price at posting:
63.5¢ Sentiment: None Disclosure: Held
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