Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Endava, PLC ("Endava" or the "Company") (NYSE: DAVA) investors of a class action representing investors that bought securities between May 23, 2023, and February 28, 2024, inclusive (the "Class Period"). Endava investors have until October 25, 2024 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The Class Action alleges that, during the Class Period, Defendants made misleading statements and omissions regarding the Company’s business, financial condition, and prospects. Specifically, Defendants misled the market regarding demand for Endava’s services within its Payments & Financial Services vertical and Banking & Capital Markets vertical.
As the truth about Endava’s business reached the market, the price of Endava’s stock suffered significant declines, harming investors. For example, on February 29, 2024, before the market opened, Endava filed a Form 6-K with the United States Securities and Exchange Commission, reporting revenues below expectations and drastically cutting revenue guidance for full year 2024. Endava attributed the revenue decline and reduced guidance to “clients [] hesitating on when to commit the sizable spend needed to build production-ready systems.” On this news, the price of Endava’s common stock declined $26.65, or 42%, to close at $37.17, on unusually heavy trading.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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