Investors Say E-Discovery Co. Misled On Financial Disclosure

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By Steven Lerner (November 23, 2021, 4:25 PM EST) — Shareholders of Nuix Ltd. are suing the Australian e-discovery and data investigations company, accusing it of misleading investors with inadequate revenue guidance and sales forecasts, as well as violating disclosure requirements.

The class action, which was filed Friday in the Supreme Court of Victoria, alleges that if not for misconduct by the company, investors would’ve paid less for shares in Nuix, or would have never invested with Nuix in the first place.

“[The] company’s prospectus and financial forecasts may have misrepresented or omitted financial information and potential risks, which was misleading and deceptive to investors,” Craig Allsopp, class actions practice leader…