Macquarie Capital has hit back at a class action over an alleged misleading prospectus for Nuix’s $1.8 billion IPO, saying it was entitled as underwriter to rely on the software company’s promises.
A judge has made a class closure order in a shareholder case against software company Nuix and underwriter Macquarie Capital, but rejected a bid to keep the order in operation until trial.
Nuix had information in January 2021 which undermined the growth story presented to the market in the prospectus for its IPO, a court has heard on the first day of ASIC’s case against the tech company and a handful of former directors.
A court has imposed a $40 million penalty on Insurance Australia Limited in a case by the corporate regulator alleging NRMA customers were not paid $60 million in promised loyalty discounts.