On April 23, 2026, the Federal Court of Australia dismissed the enforcement proceedings brought by the Australian Securities and Investments Commission (ASIC) against Nuix Limited and its former directors.

The Allegations: ASIC accused Nuix of failing to comply with continuous disclosure obligations and making misleading statements to the market in early 2021 regarding its financial performance.
Key Issues: ASIC alleged that following its December 2020 listing, Nuix knew its Half Year 2021 Annualised Contract Value (ACV) would be significantly lower than forecasts in its prospectus but failed to report this immediately.
Directors Involved: ASIC pursued former directors for failing to take reasonable steps to prevent misleading statements.
The Context: The suit followed a drastic share price fall in early 2021 after disappointing half-year results were released.

Court Ruling
Dismissal: Justice Scott Goodman dismissed ASIC's entire case.
Reasoning: The judge ruled that ASIC failed to prove there was a quantifiable profit expectation in the market that Nuix knew it wouldn't meet. The court was not satisfied that Nuix lacked reasonable grounds for its forecast reaffirmation on February 26, 2021.
Costs: ASIC was ordered to pay Nuix's legal costs.


This genuinely pisses me off. Will make it less likely for ASIC to call cunts out.