After a rough, rough year, what's left of Nuix Ltd (ASX: NXL)'s shareholders might have another clanger to endure on Monday.
To recap, analytics software provider Nuix was the darling float of last year. The shares listed on the ASX in December after selling during the initial public offering for $5.31.
Growth hype then immediately rocketed the stock, which hit $11.86 in January.
But then scandal after downgrade after scandal hit the Nuix share price hard. As of Friday afternoon, Nuix shares were going for $2.86.
Multiple identities involved with the company's past and present are currently under investigation by authorities.
Chief executive Rod Vawdrey is due to exit as soon as a replacement is found, and longtime chief financial officer Stephen Doyle was shown the door in June.
On Monday, the company will report its 2021 financial year result.
$340 million of Nuix shares can be sold off
So what else is happening Monday that might further affect the Nuix share price?
All the insider-held shares that were held in escrow for the float will be released at 4:15pm.
According to the prospectus, 37.9% of the shares on issue are due to be released from trading restrictions.
That's $340 million worth of stock held by Vawdrey, Doyle, and Macquarie Group Ltd (ASX: MQG), among others.
If they sell, Vawdrey and Doyle will walk away with $4.5 million and $2.4 million respectively.
Macquarie owns 30% of the company it bought into during its infancy as a privately owned business. The financial giant copped accusations that it had overhyped the IPO, but its defence always has been that it still owns many Nuix shares.
As of Monday afternoon, it will be free to do what it wants with those shares.
According to the Australian Financial Review, senator Deborah O'Neill called on the Australian Securities and Investments Commission (ASIC) to freeze the escrow.
"ASIC must be proactive and act to protect investors and not let those with serious questions to answer to walk away from this scandal with the loot."
The Motley Fool has contacted the corporate regulator for comment.
The Nuix share price is up 4% on Friday afternoon.
