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Nuix Shareholder Class Action

Shine Lawyers has launched a class action on behalf of shareholders who suffered losses after acquiring Nuix Limited (NXL) shares.

If you acquired NXL shares as part of the initial public offering, or on the market between 18 November 2020 and 29 June 2021, you may be eligible to join this class action.

Register for the class action

Update: Consolidation of Proceedings

On 23 August 2022, the Supreme Court of Victoria ordered that the class actions filed by Shine Lawyers and Phi Finney McDonald would be consolidated, and the class action filed by Banton Group be permanently stayed.

The Supreme Court also allowed Shine Lawyers and Phi Finney McDonald’s proposal that the firms continue to work together in the conduct of the consolidated class action.

To this end, Shine Lawyers will be the solicitors on the record and Phi Finney McDonald will be engaged to work on the matter under an agency arrangement.

Please contact Shine Lawyers’ Nuix Shareholder Class Action team at or on 1800 325 172 for any questions regarding the consolidation of proceedings.

What is the Nuix Shareholder Class Action about?

Since listing on the ASX in December 2020, NXL’s share price has fallen heavily. The decline follows a February 2021 announcement that NXL had only achieved around 44% of its FY21 revenue forecast in its half year results (total half year revenue down 4% year on year), and subsequent announcements in April and May downgrading NXL’s revenue forecast for FY21. NXL's share price fell further after information was disclosed in June 2021 regarding a criminal investigation into the allegations of insider trading in NXL shares by its former Chief Financial Officer and his brother.

This class action seeks compensation on behalf of NXL shareholders who suffered financial loss due to NXL’s alleged:

  • Misleading and deceptive conduct

  • Inadequate disclosures in the prospectus

  • Breach of continuous disclosure obligations.

Can I join the Nuix Shareholder Class Action?

To be part of this class action, you must have:

Purchased shares in Nuix Limited (ASX:NXL) as part of the initial public offering, or on the market during the period 18 November 2020 to 29 June 2021.

If you meet this criteria, you may be entitled to compensation, and you are encouraged to register for the Nuix Shareholder Class Action.

How to register for the Nuix Shareholder Class Action

To register on a confidential, no-cost, no-obligation basis, please click the button below and fill out the form.

Register for the class action

Background to the Nuix Shareholder Class Action

The Shine Lawyers Class Actions Team commenced the class action against NXL following reports of alleged misconduct in connection with the software company’s initial public offering and downgrades to its financial forecasts during the months following.

Frequently Asked Questions

What is a class action?

When Governments, large companies or institutions do the wrong thing and people are harmed or suffer loss as a result, an individual can have little to no means of bringing a legal claim.

Class actions are an important mechanism within Australia’s legal system that allow large groups of people to come together to pursue a claim collectively.

For a class action to take place, there are three criteria that need to be met:

  1. There must be 7 or more people that have claims against the same defendant; and

  2. The claims relate to the same or similar circumstances; and

  3. The claim must relate to at least one common issue of law or fact.

For more information about how class actions resolve, click here.

How long do class actions take to resolve?

It can take up to several years for a class action to resolve. The time taken from case commencement through to resolution and settlement administration depends on the particular case, and the nature of the claim.

For more information about class actions and how they work, click here.

Does it cost anything to join a class action?

Shine Lawyers is committed to ensuring that everyone, regardless of their background or financial situation, has access to justice. We run our class actions in a way that means you are not exposed to any costs or financial risk, so joining a class action will cost you nothing.

When a class action is successful, the legal fees and costs to run the class action are deducted from the settlement amount that is approved by the Court. If the class action is unsuccessful, we will ensure there are no out-of-pocket costs to you.

Will my contact details be kept private?

Yes, your contact details will remain confidential and we will seek your consent before disclosing any of your personal information (including before such disclosure is required by the Court).

Shine Lawyers will only use your personal information strictly for the purpose of the legal proceedings.

Meet the Nuix Shareholder Class Action team

Shine Lawyers’ Nuix Shareholder Class Action team includes some of the firm’s most experienced litigators, solicitors and support staff. You can learn more about the team running this class action by clicking on their profile below.

Why Choose Shine Lawyers?

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