The corporate regulator has closed its investigation into Nuix chief executive Jonathan Rubinsztein’s share purchases, finding there was not enough evidence to charge him with insider trading.
That aligns with Nuix’s statement to the market at the time. The ASIC spokesman said its investigation concluded that ASX rules did not require Nuix to disclose the terms of the purchase offer from Reveal because it was incomplete and confidential.Nuix said: “The CEO’s acquisition of Nuix shares took place with prior approval and during an approved trading window. ASIC has today confirmed that it has finalised its investigation and determined that it will not take any enforcement action.
In that case, ASIC has alleged the company and its board issued false growth targets in 2021 and failed to properly tell investors that Nuix would not hit them.