The crisis erupted after the market closed on September 21, 2026, when the company disclosed that Chief Financial Officer Mark Thurston had been placed on immediate administrative leave. The board’s decision followed concerns raised by outside auditors regarding the company’s accounting treatment of specific customer and supplier agreements. In response to these findings, Endava has launched an internal probe and warned that both its quarterly and annual financial reports will be delayed.

Reed Kathrein, the Hagens Berman partner leading the investigation, indicated that the firm is scrutinizing whether the company will be forced to restate its historical financial statements. The investigation centers on whether Endava’s previous public assurances about the integrity of its financial reporting were accurate or if the company failed to provide adequate transparency to its investors. Hagens Berman is currently seeking contact from shareholders who incurred significant losses as well as individuals with non-public information regarding the company’s internal operations.