Endava, plc
Case Overview
30 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 10/25/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: Endava, plc |
Court: | Court: Southern District of New York |
Case Number: | Case Number: 1:24cv06423 |
Class Period: | Class Period: 05/23/2023 - 02/28/2024 |
Ticker: | Ticker: DAVA |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Endava, plc ("Endava" or the "Company") (NYSE: DAVA) securities during the period of May 23, 2023 through February 28, 2024 inclusive (the "Class Period"). Investors have until October 25, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On February 29, 2024, Endava filed a Form 6-K with the United States Securities and Exchange Commission, reporting revenues below expectations and drastically cutting revenue guidance for the full year 2024. Endava attributed the revenue decline and reduced guidance to "clients [] hesitating on when to commit the sizable spend needed to build production-ready systems." On this news, the price of Endava shares declined by $26.65, or approximately 42%, to close at $37.17 on February 29, 2024.
The lawsuit alleges that Endava misled the market regarding demand for Endava's services within its Payments & Financial Services vertical and Banking & Capital Markets vertical.
On February 29, 2024, Endava filed a Form 6-K with the United States Securities and Exchange Commission, reporting revenues below expectations and drastically cutting revenue guidance for the full year 2024. Endava attributed the revenue decline and reduced guidance to "clients [] hesitating on when to commit the sizable spend needed to build production-ready systems." On this news, the price of Endava shares declined by $26.65, or approximately 42%, to close at $37.17 on February 29, 2024.
The lawsuit alleges that Endava misled the market regarding demand for Endava's services within its Payments & Financial Services vertical and Banking & Capital Markets vertical.