Australia's Nuix drops over 3%; court hearing on disclosure breaches starts

Nuix

17/11/2023 04:22

** Shares of Nuix Ltd  NXL.AX  fall as much as 3.7% to
A$1.545, marking its worst intraday pct drop since Nov. 9
    ** Software company says the Federal Court hearing on
corporate regulator's allegations over misleading prospectus
forecasts for FY21 and other disclosure breaches will start on
Nov. 20
    ** NXL adds hearing scheduled over four weeks
    ** Nuix maintains its disclosure between January to April
2021 was appropriate
    ** More than half a million shares change hands, vs 30-day
average volume of 364,211
    ** Stock has risen 156.8% this year, as of last close, vs a
meagre 0.7% increase in the ASX All Ordinaries index  .AORD 

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))