Endava plc (DAVA) Investigation: Bronstein, Gewirtz and Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings
Bronstein, Gewirtz & Grossman, is investigating potential claims against Endava plc (NYSE:DAVA) on behalf of investors. The investigation follows Endava's announcement of financial results for Q4 2023, which revealed the company was running behind its revenue trajectory by approximately £70 million, nearly 9% below prior projections at the midpoint. This news caused Endava's ADS price to fall $26.65 (41.76%) on February 29, 2024, closing at $37.17. Investors who purchased Endava securities are encouraged to assist the investigation. The law firm is representing investors on a contingency fee basis, seeking reimbursement for expenses and attorneys' fees only if successful.
Bronstein, Gewirtz & Grossman sta indagando potenziali reclami contro Endava plc (NYSE:DAVA) per conto degli investitori. L'indagine segue l'annuncio dei risultati finanziari per il quarto trimestre del 2023 da parte di Endava, che ha rivelato che la società era indietro rispetto alla sua traiettoria di fatturato di circa 70 milioni di sterline, quasi il 9% al di sotto delle proiezioni precedenti a metà anno. Questa notizia ha causato il crollo del prezzo dell'ADS di Endava di $26.65 (41.76%) il 29 febbraio 2024, chiudendo a $37.17. Gli investitori che hanno acquistato titoli di Endava sono incoraggiati a sostenere l'indagine. Lo studio legale rappresenta gli investitori sulla base di una commissione di contingenza, cercando il rimborso delle spese e delle parcelle legali solo in caso di successo.
Bronstein, Gewirtz & Grossman está investigando posibles reclamaciones contra Endava plc (NYSE:DAVA) en nombre de los inversores. La investigación sigue al anuncio de resultados financieros para el cuarto trimestre de 2023 de Endava, que reveló que la compañía estaba detrás de su trayectoria de ingresos en aproximadamente £70 millones, casi un 9% por debajo de las proyecciones anteriores en la mitad del año. Esta noticia provocó que el precio de ADS de Endava cayera $26.65 (41.76%) el 29 de febrero de 2024, cerrando en $37.17. Se anima a los inversores que compraron valores de Endava a apoyar la investigación. El bufete de abogados representa a los inversores sobre una base de honorarios de contingencia, buscando el reembolso de gastos y honorarios de abogados solo si tiene éxito.
Bronstein, Gewirtz & Grossman은 투자자를 대신하여 Endava plc(NYSE:DAVA)에 대한 잠재적 청구를 조사하고 있습니다. 이번 조사는 Endava가 2023년 4분기 재무 결과 발표를 했고, 이로 인해 회사가 약 7,000만 파운드 정도 수익 예측에서 뒤처져 있다는 사실이 밝혀졌습니다, 이는 이전 예측보다 거의 9% 낮은 수치입니다. 이러한 뉴스로 인해 Endava의 ADS 가격은 2024년 2월 29일에 $26.65 (41.76%) 하락하였고, $37.17에 마감되었습니다. Endava의 증권을 구매한 투자자들은 조사에 협조할 것을 권장합니다. 이 법무법인은 성공할 경우에만 비용 및 변호사 수수료를 환급받기 위한 비용 보상 기반으로 투자자를 대리하고 있습니다.
Bronstein, Gewirtz & Grossman est en train d'enquêter sur des réclamations potentielles contre Endava plc (NYSE:DAVA) au nom des investisseurs. L'enquête fait suite à l'annonce des résultats financiers pour le quatrième trimestre 2023 d'Endava, qui a révélé que l'entreprise était en retard de près de 70 millions de livres par rapport à sa trajectoire de revenus, presque 9 % en dessous des prévisions antérieures à mi-parcours. Cette nouvelle a provoqué une chute du prix de l'ADS d'Endava de $26.65 (41.76%) le 29 février 2024, clôturant à $37.17. Les investisseurs ayant acheté des titres d'Endava sont encouragés à soutenir l'enquête. Le cabinet d'avocats représente les investisseurs sur une base d'honoraires de résultat, recherchant le remboursement des frais et honoraires d'avocat uniquement en cas de succès.
Bronstein, Gewirtz & Grossman untersucht potenzielle Ansprüche gegen Endava plc (NYSE:DAVA) im Auftrag von Investoren. Die Untersuchung folgt auf Endavas Bekanntgabe der finanziellen Ergebnisse für das vierte Quartal 2023, die offenbarte, dass das Unternehmen um etwa 70 Millionen Pfund hinter seiner Umsatzprognose liegt, was fast 9% unter den vorherigen Schätzungen zur Jahresmitte liegt. Diese Nachricht führte dazu, dass der ADS-Preis von Endava um $26.65 (41.76%) fiel am 29. Februar 2024, und bei $37.17 schloss. Investoren, die Endava-Wertpapiere gekauft haben, werden ermutigt, die Untersuchung zu unterstützen. Die Kanzlei vertritt die Investoren auf Honorarbasis und strebt eine Rückerstattung von Auslagen und Anwaltsgebühren nur im Erfolgsfall an.
- None.
- Endava reported revenue approximately £70 million (9%) below projections
- Company's ADS price fell 41.76% following the announcement
- Potential legal claims being investigated against the company
Insights
This investigation into Endava plc (DAVA) is a significant development for investors. The 41.76% drop in ADS price following the announcement of financial results indicates a substantial market reaction. The reported
From a legal standpoint, the investigation will likely focus on whether Endava's management misled investors about the company's financial health and projections. If evidence of wrongdoing is found, it could lead to a class-action lawsuit, potentially resulting in settlements or judgments for affected investors. However, it's important to note that at this stage, these are merely allegations and no wrongdoing has been proven.
Investors should closely monitor this situation, as the outcome could impact Endava's financial stability and future market performance. It's advisable for shareholders to review their investment documentation and consider consulting with legal counsel to understand their rights and potential courses of action.
The unexpected
This development raises questions about Endava's financial management and the reliability of its guidance. Investors should scrutinize upcoming financial reports for any signs of systemic issues in revenue recognition or client retention. The tech sector's volatility and potential macroeconomic headwinds could exacerbate these challenges.
Moving forward, key metrics to watch include cash flow trends, client diversification and any revisions to long-term growth targets. The company's ability to regain investor confidence will be important for its stock performance and access to capital markets in the near term.
NEW YORK CITY, NY / ACCESSWIRE / August 27, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Endava plc ("Endava" or "the Company") (NYSE:DAVA). Investors who purchased Endava securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/DAVA.
Investigation Details
On February 29, 2024, Endava announced its financial results for the three months ended December 31, 2023. Among other items, Endava stated that it was running behind its recent revenue trajectory by approximately £70 million, or nearly
What's Next?
If you are aware of any facts relating to this investigation or purchased Endava securities, you can assist this investigation by visiting the firm's site: bgandg.com/DAVA. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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FAQ
What caused Endava's (DAVA) stock price to drop on February 29, 2024?
Why is Bronstein, Gewirtz & Grossman investigating Endava (DAVA)?
How much did Endava (DAVA) miss its revenue projections by in Q4 2023?
What options do Endava (DAVA) investors have regarding the investigation?
