Endava Plc was sued by a shareholder who alleges the company misled investors about the demand for its technology services.
London-based Endava reported strong demand even as its revenue and the projects in its pipeline dwindled, said the complaint filed Monday in the US District Court for the Southern District of New York.
“When the truth began to reach the market, Endava’s stock price suffered significant declines, harming investors,” the proposed class action said.
The tech industry experienced a slowdown in early 2023 as companies pulled back spending on IT projects, the suit said. While companies like International Data Corp. ...