Former Nuix (ASX:NXL) executive accused of insider trading

Company News

by Lauren Evans

Technology company Nuix (ASX:NXL) has announced that the Australian Securities and Investments Commission (ASIC) is conducting an investigation into Nuix’s former Chief Financial Officer, Stephen Doyle and family members Ross and Ronald Doyle.

ASIC believe that Stephen Doyle would have allegedly known about the downgrade to the company’s financial performance that was to be revealed to the public in February. For Stephen, he is accused of tipping off his brother in January, according to the court affidavit.

ASIC accuses Ross Doyle of selling 1.8 million Nuix shares that were held by a Singapore company named Black Hat. 

Nuix Chair Jeffrey Bleich said, “We are genuinely disturbed by the allegations concerning Mr Doyle and will fully assist ASIC in getting to the bottom of that matter."

Shares in Nuix are trading (ASX:NXL) 12.8 per cent lower at $2.22. 

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