Faruqi & Faruqi Reminds Endava Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of October 25, 2024 - DAVA

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Endava plc due to allegations of false and misleading statements regarding the company's business performance and prospects, which have led to significant investor losses [2][4]. Group 1: Legal Investigation and Class Action - The law firm is encouraging investors who suffered losses exceeding $100,000 in Endava between May 23, 2023, and February 28, 2024, to discuss their legal options [1]. - There is a deadline of October 25, 2024, for investors to seek the role of lead plaintiff in a federal securities class action against Endava [2]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. Group 2: Allegations Against Endava - The complaint alleges that Endava and its executives violated federal securities laws by failing to disclose material adverse facts about the company's operations, including a decline in demand for services and project delays by clients [4]. - The company's fiscal 2023 and 2024 revenue and earnings are expected to be adversely affected due to these undisclosed issues [4]. Group 3: Impact on Stock Price - Following the revelation of these issues, Endava's stock price experienced a significant decline, dropping $26.65, or 42%, to close at $37.17 after the company reported revenues below expectations and drastically cut revenue guidance for full year 2024 [5].