THE LAWSUIT: A class action securities lawsuit was filed against Endava plc (DAVA) that seeks to recover losses of Endava shareholders who were adversely affected by alleged securities fraud between May 23, 2023 and February 28, 2024
CASE DETAILS: On February 29, 2024, Endava announced 2Q24 financial results and then reduced its revenue guidance for the 3Q and full fiscal year 2024. The Company blamed it on the “uncertain economic environment” causing delays in bookings ramp. Analysts commenting on Endava’s reduced guidance note management being overly confident that new deals would ramp-up quicker than they did and an expected rebound in payments and financial services.
Following this news, Endava’s stock price fell by $26.65 per share, or approximately 42% to close at $37.17 per share.
WHAT’S NEXT? If you suffered a loss in Endava stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/endava-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
