Yes with hindsight Sheehy could very much make up anything to benefit him. Could he have stop the IPO until things are settled?
Lets think of another scenario where the share price of Nuix is now sitting at $20 per share. Would Sheehy be satisfied with the $180 millions that is quoted by the media or would he prefer the 22.6 million (assuming that the had won the case) ordinary shares?
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