Nuix Group Proceedings (Class Actions)

Three group proceedings were brought on behalf of those who acquired shares in the first named defendant in each case, Nuix Limited, during and immediately after its Initial Public Offering (IPO), in the following time periods:

• In William Lay v Nuix Limited (Lay Proceeding), 18 November 2020 and 30 May 2021;
• In Daniel Joseph Batchelor v Nuix Limited & Ors (Batchelor Proceeding) between 4 December 2020 and 29 June 2021; and
• In Stella Stefana Bahtiyar v Nuix Limited & Ors (Bahtiyar Proceeding) 18 November 2020 and 31 May 2021.

In each case, the plaintiffs claim Nuix (and in the case of the Batchelor Proceeding, Nuix’s corporate advisors Macquarie Capital (Australia) Limited and Macquarie Group Limited, and in the case of the Bahtiyar Proceeding, the Macquarie entities and six named directors of Nuix) engaged in misleading or deceptive conduct by making certain representations in its IPO prospectus which proved false, or in omitting information which ought to have been included, in each case inflating the share price paid by group members.

The proceedings were being managed together by the Honourable Justice Nichols, who on 23 August 2022, handed down a ruling that:

• The Bahtiyar Proceeding will be permanently stayed;
• The Lay Proceeding and the Batchelor Proceeding will be consolidated, with both Lay and Batchelor remaining as plaintiffs on the record; and
• Shine will remain on the record as the solicitors for the consolidated proceeding. 

The claims of shareholders in Nuix will now be advanced only by the Lay and Batchelor plaintiffs. There is no need for group members to take any action.