The first signs of trouble came in September, when officials from the corporate regulator started searching for evidence that the company’s chief executive, Jonathan Rubinsztein, traded shares while possessing confidential information.
Since that moment, the company’s board has been bound up in animosity and suspicion. “I am paranoid and don’t want to use email if I can help,” wrote one director, Sue Thomas, in a text message as she complained of being kept in the dark by Nuix then-chairman Jeff Bleich.
A previous version of this article reported Nuix chief executive Jonathan Rubinsztein acquired 800,000 shares in September. He actually purchased 350,000. The story has been updated to reflect this, as well as reduce customer churn from 10 per cent. The Financial Review has no reason to dispute Nuix’s claim that the six month 5.5 per cent churn figure cited in the article already was annualised. It has also been updated to clarify that ASIC investigated, but has not charged, Stephen Doyle and his brother, Ross Doyle, for insider trading.
