The company’s American Depositary Receipt price dropped $0.68, or 24.37 percent, closing at $2.11 on September 22. This sharp decline followed the September 21 announcement that independent outside counsel had been retained to review the firm’s financial reporting protocols. Investors impacted by this volatility are now being sought by Pomerantz LLP, a firm specializing in corporate and securities class litigation, to determine if officers or directors engaged in unlawful business practices. Danielle Peyton, representing the firm, is handling inquiries regarding the potential class action status of the investigation.
Endava Faces Investor Investigation Following CFO Administrative Leave
Shares of Endava plummeted nearly 25 percent this week after the company placed Chief Financial Officer Mark Thurston on administrative leave. The sudden move, triggered by an internal probe into accounting practices surrounding specific customer and supplier agreements, has prompted the New York-based Pomerantz LLP to launch a formal securities fraud investigation.
Comments (0)
No comments yet. Be the first!