NEW YORK, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Navan, Inc. (“Navan” or the “Company”) (NASDAQ: NAVN) securities on October 31, 2025 initial public offering (the “IPO”).
The Complaint alleges that according to the offering documents, Navan’s business had “experienced rapid growth,” and the Company’s solutions catered to “customers of all sizes across any industry vertical.” The Complaint alleges that consequently, the Company’s revenue “grew 33% year-over-year” from 2024 to 2025, its Gross Booking Volume (“GBV”) “grew 32% year-over-year” from 2024 to 2025, and its “usage yield” was “approximately 7%” in each of those years as well.
The Complaint alleges that unbeknownst to investors, however, at the time of the IPO, the Company had increased its “sales and marketing” expenses by 39% for the quarter ending October 31, 2025 ($95 million) – which was also the same day as the IPO – compared to the quarter ending July 31, 2025 ($68.5 million).
The Complaint states that as these true facts emerged after the offering, the Company’s shares fell sharply. By the commencement of this action, Navan’s shares traded as low as $10.45 per share, a decline of nearly 60% from the offering price.
Investors who purchased or otherwise acquired shares of Navan should contact the Firm prior to the April 24, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
