I suspect this is ASIC's bullying tactic, with AFR in tow and fear-mongering with throwing in names such as ATO and ACCC. They timed it perfectly, right in between of court case outcome and HY Results. It is not just the disclosure issue but a major issue of saving face and reputation for ASIC. If ASIC loses the case against Nuix (and it does lose many a times on purely legal grounds), they would need to get in deep damage control mode. The govt. would audit every process and every exec. within ASIC, it will be costly and an irreparable damage to its position of authority. The least they could do is pull strings to bully Nuix into giving in.
I am glad Nuix has not responded to the 25% drop. Silence is Golden. Let the product do it's work. It shows that their focus in on growing the tech and the business, and not getting muddled in corporate and media politics. The govt will lose Aussie's precious tax dollars if they engage a US company, even though Nuix has been doing a great and at par (if not better) job for them. There would be a lot of questions for ASIC to answer if they get rid of Nuix. Their actions, as a govt entity, would go against national interests which would be hard to assuage.
All imo and pure speculation.
NXL Price at posting:
$1.08 Sentiment: Hold Disclosure: Held
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