PR Newswire·Nov 9, 2026, 1:18 PM ET

ENDAVA (NYSE: DAVA) Replaces CEO and CFO, Confirms Financial Statements Are Unreliable, Contracts Lack Economic Substance, Financial Restatements Pending

Endava plc admitted on Oct. 28, 2026, that accounting for certain customer agreements lacked economic substance & violated accounting standards.
The company stated its financial statements for multiple periods in fiscal 2025 & 2026 can no longer be relied upon by investors.
CFO Mark Thurston resigned three days before the Oct. 28 filing, & CEO John Cotterell was replaced by an interim CEO.
General Counsel Rohit Bhoothalingam resigned a couple of days prior to the admission.
Endava shares fell 12% following the Oct. 28 announcement after already dropping 24% on Sept. 22, 2026, during the initial investigation disclosure.
A securities class action lawsuit (Laguna v. Endava plc) is pending in the U.S. District Court for the Southern District of New York.
Investors who purchased Endava ADSs between Sept. 4, 2025, & Sept. 21, 2026, may seek lead plaintiff status by Nov. 30, 2026.
Hagens Berman is investigating potential violations of Section 10(b) & Section 20(a) of the Securities Exchange Act of 1934.
Whistleblowers with non-public information may contact Hagens Berman or the SEC to potentially receive rewards up to 30% of any recovery.