The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Endava, plc (DAVA)

Published 2 months ago via Business Wire

The Law Offices of Frank R. Cruz reminds investors of the upcoming October 25, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Endava, plc (“Endava” or the “Company”) (NYSE: DAVA) securities between May 23, 2023 and February 28, 2024, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

On February 29, 2024, Endava released its second quarter fiscal 2024 financial results, falling below estimates and providing lowered guidance for the remainder of the fiscal year. The Company further stated that some of its clients had delayed their orders due to economic uncertainty.

On this news, Endava’s stock price fell $26.65, or 41.8%, to close at $37.17 per share on February 29, 2024, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, 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 to investors 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 at all relevant times.

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If you purchased or otherwise acquired Endava securities during the Class Period, you may move the Court no later than October 25, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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