Overview

A class action lawsuit has been filed against Endava, plc (“Endava” or the “Company”) (NYSE: DAVA) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The Endava class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Endava securities between May 23, 2023, and February 28, 2024, both dates inclusive (the “Class Period”).  Investors have until October 25, 2024, to seek appointment as lead plaintiff of the Endava class action lawsuit.

Endava provides a combination of product and technology strategies, intelligent experiences, and engineering to help customers become digital, experience-driven businesses by assisting them from idea generation to development and deployment of products, platforms, and solutions.

The Endava class action lawsuit alleges that Defendants misled the market to believe that demand for their services remained high and that the market would recover quickly.  In reality, demand was soft, and clients had reduced discretionary spending, thus hindering recovery.  As a result, the Company’s revenues were in decline.  When the truth began to reach the market, Endava’s stock price suffered significant declines, harming investors.

As alleged in the Endava class action lawsuit, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, Defendants failed to disclose that: (1) demand for the Company’s services was declining; (2) the Company’s clients delayed or canceled projects; (3) as a result, the Company’s fiscal 2023 and 2024 revenue and earnings would be adversely affected; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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If you purchased or otherwise acquired Endava securities between May 23, 2023, and February 28, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Endava class action lawsuit is October 25, 2024.