Nuix chief executive Rod Vawdrey supported this view,telling investors:“I cannot directly influence how markets react and the media reports. But I’m acutely aware that helping you all understand this incredible business will deliver for our shareholders.”
Nuix shares were heavily sold off on Monday after ajoint investigation byThe Sydney Morning Herald,The Age andThe Australian Financial Reviewrevealed questions about the company’s governance and financial accounts in the years before it floated.
The news sent Nuix shares tumbling to another record low on Monday,down more than 11 per cent to $3.06. Investors paid $5.31 per share when it floated on the ASX just six months ago.
Areport on Tuesday morning revealed Nuix executives were questioning the quality of the forensic data software company’s core products and calling for more resources to “slow the bleeding” just weeks after its sensational sharemarket listing led by Macquarie Group last December.
“Let me be very clear,Nuix is every bit as good as people thought it was six months ago,” Mr Bleich told investors. “Nuix is a company with a valuable suite of products built over a long period of time,with blue-chip clients who are loyal and who are satisfied in a market that is rapidly growing.”