News of Office Raid Triggers Selloff in Nuix
Shares in troubled tech stock Nuix slid nearly 2% yesterday on the news that Australian Federal Police had raided the company's offices as part of a criminal investigation.
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Nuix Limited
Nuix Limited is a leading provider of investigative analytics and intelligence software, with the vision of “finding truth in a digital world”. Nuix helps customers to process, normalise, index, enrich and analyse data from a multitude of different sources, solving many of their complex data challenges. The Nuix platform supports a range of use cases, including criminal investigations, financial crime, litigation support, employee and insider investigations, legal eDiscovery, data protection and privacy, and data governance and regulatory compliance.
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News
Nuix Loses Yet Another Exec as CEO Departs
Fresh on the heels of chief financial officer Stephen Doyle exiting the business, data forensics group Nuix has now lost chief executive officer Rod Vawdrey as well.
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Renewed Pressure on Nuix Board with CFO Rumours
More questions for embattled tech stock Nuix with media reports yesterday claiming that Chief Financial Officer Stephen Doyle has left the company under dubious circumstances.
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Committee Set to Address Problems at Nuix
Nuix told the ASX yesterday that its board has set up an independent sub-committee to address criticism of poor corporate governance and weak management oversight.
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Nuix Hammered after Disappointing Guidance
Investors on Wednesday sold off Nuix shares after the company said it will not meet the business forecasts set out in its IPO documents issued last December.
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Analyst Views
NXL – Morgan Stanley rates the stock as Overweight
The broker remains positive on the business outlook yet expects the shares will continue to trade at a discount until investor confidence is restored. Overweight rating and $6.40 target maintained.
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