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The infighting behind the $2.7b Nuix meltdown

The infighting behind the $2.7b Nuix meltdown

It was last year’s hottest float, before missed forecasts sent its stock into a rapid plunge. But the company’s chequered history serves as a reality check.

Tony Castagna arrives at Nuix headquarters in Sydney late last month. The company’s ‘rainmaker’ had been sentenced to four years in prison and served a year before being acquitted of tax fraud and money laundering on appeal. Dom Lorrimer

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It was Saturday visiting hours and the prisoner in protective custody had a familiar visitor.

Dr Anthony Dante Castagna, a former finance professor, was one year into his four-year sentence for tax fraud and money laundering. In four days’ time his crucial appeal against his conviction would be heard.

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Sydney Morning Herald and The Age

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Adele Ferguson
Adele FergusonInvestigative journalist and columnistAdele Ferguson is a Gold Walkley Award winning investigative journalist. She reports and comments on companies, markets and the economy. Connect with Adele on Twitter. Email Adele at adele.ferguson@theage.com.au
Kate McClymontSenior ReporterKate McClymont is chief investigative reporter at The Sydney Morning Herald. Connect with Kate on Twitter. Email Kate at kmcclymont@smh.com.au
Neil Chenoweth
Neil ChenowethSenior writerNeil Chenoweth is an investigative reporter for The Australian Financial Review. He is based in Sydney and has won multiple Walkley Awards. Connect with Neil on Twitter. Email Neil at nchenoweth@afr.com.au

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Original URL: https://www.afr.com/markets/equity-markets/the-infighting-behind-the-2-7b-nuix-meltdown-20210516-p57scy