$DAVASep 29, 2026, 2:24 PM ETAI processed
Law firm opens securities probe into Endava after CFO placed on leave; shares plunged ~24%
AI Summary
Schall, Brown & Schwartz is investigating Endava plc (DAVA) for possible securities-law violations after Endava placed CFO Mark Thurston on administrative leave while an independent probe examines the accounting treatment of customer and supplier agreements. The company’s shares fell about 24.4% the next trading day and the firm is soliciting shareholders who suffered losses to join the investigation.
Positives
- Schall, Brown & Schwartz launched an investigation on behalf of Endava investors alleging potential securities-law violations
- Endava confirmed CFO Mark Thurston was placed on administrative leave tied to an independent review of accounting treatment for customer and supplier agreements
Negatives
- Shares dropped ~24.4% the trading day after the leave announcement
- Investigation alleges the company may have made false or misleading statements or failed to disclose material information
- Accounting treatment of customer and supplier agreements is under scrutiny, which could affect reported financials