Endava plc Faces Securities Class Action Over Delayed Financials

Software development firm Endava plc (NYSE: DAVA) is facing a securities class action lawsuit in the United States, seeking to represent investors who purchased or acquired Endava securities between September 4, 2025, and September 21, 2026. The lawsuit was initiated following a more than 25% plunge in the company's stock price on September 22, 2026, after Endava disclosed significant management and potential accounting issues.

National shareholders rights firm Hagens Berman is investigating claims that Endava violated federal securities laws. The complaint alleges that during the class period, Endava failed to disclose that the accounting for certain customer and supplier agreements would require further review, likely leading to a delay in the release of its Q4 and FY 2026 financial results.

Concerns were heightened after market close on September 21, 2026, when Endava announced that its Chief Financial Officer, Mark Thurston, was placed on administrative leave. The company also stated that an internal investigation had been launched in response to concerns raised by its outside auditors regarding the accounting treatment of certain customer and supplier agreements.

The market reacted swiftly to the news, resulting in a sharp decline in the company's share price. Hagens Berman is focused on determining whether Endava may need to restate its historical financial statements and how any adjustments might affect the company's claims about its AI pivot gaining momentum.