Nuix directors relied on analysis given to them about the software company’s performance by management, and decided to reaffirm prospectus forecasts because the board believed the business could make up its ailing revenue numbers in the latter half of 2021, a court has heard.

In his closing arguments for the ASX-listed technology company on Wednesday, Matthew Darke, SC, said analysis of Nuix’s performance provided to directors – including former chairman and former US ambassador to Australia Jeffrey Bleich, Iain Lobban, Sue Thomas and Macquarie’s Daniel Phillips – was enough to convince them the company could recover and hit guidance.