Core Viewpoint - A class action lawsuit has been filed against Navan, Inc. for allegedly misleading investors regarding its IPO and subsequent financial performance, leading to significant losses for shareholders [2][7]. Group 1: Lawsuit Details - The lawsuit was filed in the United States District Court for the Northern District of California on behalf of all individuals and entities who purchased Navan securities based on the Offering Documents [2]. - Investors have until April 24, 2026, to apply to be appointed as lead plaintiff in the lawsuit [2]. Group 2: Allegations - The complaint alleges that the Offering Documents used during Navan's IPO were false and misleading, failing to disclose an increase in "sales and marketing" expenses at the time of the offering [7]. - As a result of the revelations about the company's business practices, Navan's share price fell dramatically, trading as low as $9.01 per share, which is over a 60% decline from the IPO price of $25.00 per share [7]. Group 3: Company Background - Navan conducted its initial public offering on October 30, 2025, selling approximately 36.9 million shares [7]. - Bragar Eagel & Squire, P.C. is a law firm representing investors in this case, with a focus on securities and commercial litigation [5].
Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Navan, Inc. and Encourages Investors to Contact the Firm