Local software provider Nuix has revealed a search warrant has been executed on its Sydney office, with authorities seeking documents in relation to an investigation into the affairs of an unnamed "individual”.
The Australian Securities Exchange (ASX)-listed software vendor stressed to shareholders that the warrant, as far as the company understood, did not relate to any allegation of wrongdoing by Nuix itself.
The warrant, executed on 24 June, comes just days after the chief executive and chief financial officers of the beleaguered software company resigned amid allegations concerning its $1.8 billion public listing.
On 15 June, Nuix’s CEO Rod Vawdrey told shareholders via a statement lodged with the ASX that he had “given notice of his decision to retire”.
At the same time, CFO Stephen Doyle's employment was “terminated by mutual agreement”, according to a separate ASX notice.
Vawdrey said he will continue in his role for the time being while Nuix searches for a new CEO to “allow for an orderly leadership transition”.
The departures follow a media investigation into Nuix’s financial accounting in the years leading up to the data forensics company’s initial public offering (IPO) in 2020.
According to The Sydney Morning Herald, the Australian Securities and Investments Commission (ASIC) is investigating whether Nuix’s primary backer Macquarie Group overstated the company's sales forecasts ahead of its listing.
ASIC’s investigation into the Nuix float follows revelations by The SMH, The Age and The Australian Financial Review of an apparent six-year gap in Nuix’s records.
The Australian Federal Police is also investigating possible breaches of the Corporations Act involving Nuix co-founder Anthony Castagna.
Castagna resigned from Nuix's board last year in November and recently had a consultancy agreement terminated by the company.
"Dr Castagna has been a significant part of Nuix’s success since its inception and we thank him for his long and important service to the company,” the company said at the time.