I personally feel that, ASIC started this lawsuit only because they HAD TO take some action, however reluctant it might have been to do so, as their relevance and role has been seriously challenged recently, to the extent that it has been proposed to break it up.
They have an internal crises which looks like will restructure it massively. This is a face-saving lawsuit.
They had nothing on Nuix and couldnt penalise them based on their own inadequate disclosure rules. They let off Nuix on other issues but decided to sue on shaky disclosure grounds.
Even during the lawsuit, they faltered at the very first step where they were challenged on their OWN disclosure rules and later conceded the uselessness of ACV.
They fought this lawsuit to lose. Just speculating here. I am just an idiot on HC
NXL Price at posting:
$1.59 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)