The statements below are Shine Lawyers’s account of this case. They reflect allegations or the firm’s position and have not been determined by a court unless a settlement or judgment is noted.
Latest update
Mediation On 17 June 2025, the parties attended a Court-ordered mediation. No settlement has been reached. Registrations have now reopened. You can register by following the link below and providing the requested information. The matter is listed for hearing of the initial trial that will address the issues common to group members to commence on 27 July 2026. It is currently anticipated it will run for approximately eight weeks. 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 nuixclassaction@shine.com.au or on 1800 560 656 for any questions regarding the consolidation of proceedings.
Source: Shine Lawyers
About This Case
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:
Inadequate disclosures in the prospectus
Breach of continuous disclosure obligations.
Source: Shine Lawyers
Who May Be Eligible
If you acquired an interest in shares in Nuix Limited (ASX:NXL) in the period 18 November 2020 to 29 June 2021 (inclusive) then you may be eligible for compensation and are encouraged to register.
Source: Shine Lawyers
How to Register
To register on a confidential, no-cost, no-obligation basis, please click the button below and fill out the form.
Register NowSource: Shine Lawyers
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: t here must be 7 or more people that have claims against the same defendant; and t he claims relate to the same or similar circumstances; and t he 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 out-of-pocket costs or financial risk. 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. Shine Lawyers will only use your personal information strictly for the purpose of any legal proceedings and in accordance with our Privacy Policy.
Source: Shine Lawyers
Disclaimer: This information is sourced from Shine Lawyers. It is provided for general information only and does not constitute legal advice. Always verify details with the original source before taking any action.
Legal disclaimer: Information on this page is general in nature and does not constitute legal advice. ClaimBar tracks class action settlements and provides updates. Always seek professional legal advice for your specific circumstances.
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