The recently sacked Nuix CFO Stephen Doyle,his brother and father are subjects of a criminal investigation into insider trading and dealing with the proceeds of crime.
The Australian Federal Police raided the offices of Macquarie-backed tech group Nuix on Thursday following the launch of a criminal investigation by the corporate regulator.
The corporate watchdog’s new boss says it’s not ASIC’s job to pre-vet prospectuses,even as it gets ready to take look at the data forensics outfit’s ill-fated IPO.
Nuix has announced its top two executives will exit the business following a disastrous float of the Macquarie-backed data forensics group.
The biggest float in years on the ASX has kicked off with the release of online property conveyancer PEXA’s prospectus.
Nuix’s financial chief has cleared his desk at its Sydney head office and has not been seen there since.
The data forensics outfit’s board is under pressure to put its senior management on notice after the company delivered more bad news to investors.
Nuix needs a circuit breaker - and a purge of the most senior executives might be the board’s most effective arsenal.
The tech company has cut ties with Dr Castagna just days after the federal police confirmed it is investigating possible breaches of the Corporations Act. Nuix didn’t give a reason why it ended the contract.
The AFP is looking at possible breaches of the Corporations Act related to options that Tony Castagna turned into an $80m windfall at last year’s float.
The Nuix board has set up an independent sub-committee to address investor concerns about its disastrous float by Macquarie Group and promised it will appoint more independent board members.