Echo law is investigating a class action on behalf of shareholders against NEXTDC Ltd (ASX:NXT) in relation to the Company’s announcement to the ASX on 21 October 2026 that it was downgrading its guidance for FY27 net revenue and EBITDA.

NXT’s share price declined by approximately 42% in response to the downgrade.

NEXTDC Ltd (NXT) Shareholder Class Action

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Claim Period

The class action is being investigated on behalf of persons that acquired: 

  1. NXT securities on securities exchanges including the ASX; and 

  2. NXT securities via an entitlement offer. 

between 25 February 2026 and 20 October 2026 (inclusive). 

We are also investigating bringing claims on behalf of persons that acquired other instruments sensitive to NXT’s share price (and the allegations in the contemplated claim), including: 

  1. NXT Convertible Notes; 

  2. NXT Hybrid Securities; 

  3. NXT Subordinated Floating Rate Notes; or 

  4. long exposure to NXT securities by entering into equity swap confirmations, 

during the same time period. 

Allegations

The proposed class action would allege that, between 25 February 2026 and 20 October 2026, NXT engaged in misleading or deceptive conduct and breached its obligations of continuous disclosure to the market in relation to representations made regarding capacity of its M3 data centre, expected FY27 EBITDA and net revenue, and information withheld about its likely FY27 performance. 

Participation

If you an interest in NXT between 25 February 2026 and 20 October 2026 (inclusive), you can register your interest in the proposed class action here by clicking the “Register Now” button below. You will also receive regular updates from Echo Law about the progress of the proposed class action if you register your claim now. 

Register Now

Costs

There is no out of pocket cost to participate in the claim.

Echo Law is proposing to act on behalf of group members on the basis that a Group Costs Order will be sought. A Group Costs Order is an order that can be made by the Supreme Court of Victoria, which means that the legal costs payable to the law practice representing the group members will be calculated as a percentage of any award or settlement that may be recovered in the proposed proceeding.

In no circumstances will group members ever be out of pocket by participating in the proposed class action – whether the case is successful or unsuccessful.

Enquiries

If you acquired an interest in NXT securities between 25 February 2026 and 20 October 2026 (inclusive) and wish to register for the investigation, you can do so by clicking the ‘Register Now’ button above. 

You can also contact Echo Law to discuss the proposed class action by sending an email to enquiries@echolaw.com.au or calling Echo Law on +61 (03) 7046 3565.