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DAVA.US
id: 1321
Endava (DAVA) Falling Demand Case
S.D. New York
Court1:24-cv-06423
Case number23 May 2023
Class period Start28 Feb 2024
Class period End25 Oct 2024
Lead Plaintiff motion deadline- $DAVA stockholders filed a claim against Endava for misleading them about falling demand and canceled projects.
- After the financial results on February 29, 2024, $DAVA dropped by over 42%.
- Endava investors can join this case to be notified about potential recovery.
Case Details:
On February 29, 2024, Endava announced its Q2 2024 results, showing quarterly revenue of £183.6 million, down 10% from last year.
They also projected full-year revenue for 2024 to be between £722 million and £735 million.
On this news, $DAVA fell by nearly 42%.
Based on these events, $DAVA investors filed a claim against Endava, accusing the company of the following:
- Endava faced a decrease in demand for its services.
- Clients began postponing or canceling their projects.
- As a result, Endava's revenue and earnings for 2023 and 2024 are expected to be lower.
Considering all the representations, investors suspect Endava misled investors about falling demand and canceled projects.
Case Status
Lead Plaintiff Submission
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
29 February 2024
Filing date
26 August 2024
Lead Plaintiff Deadline
25 October 2024