Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, has filed a securities class action lawsuit in the United States District Court for the Northern District of California against Navan, Inc. (“Navan” or the “Company”) (NASDAQ: NAVN), and certain of the Company’s directors and officers, and the underwriters of Navan’s October 2025 initial public offering (“IPO”), alleging violations of §§11, 12 and 15 of the Securities Act of 1933. If you purchased Navan common stock pursuant to and/or traceable to the Company’s Registration Statement and Prospectus (collectively, the “Offering Documents”) issued in connection with the Company’s IPO, you are encouraged to contact Scott+Scott attorney Mandeep S. Minhas at (888) 398-9312 for more information.
Navan is a Palo Alto, California-based technology company that provides booking and expense reporting software for business travelers. On or about October 30, 2025, Navan conducted its IPO, offering 36.9 million shares of its common stock to the investing public at a price of $25 per share (the “Offering Price”).
According to the complaint filed in the U.S. District of California, Northern District and captioned McCown v. Navan, Inc., Case No. 5:26-cv-01550, the Offering Documents used to effectuate Navan’s IPO were false and misleading and omitted to state that, at the time of the offering, the Company had increased its “sales and marketing” expenses. As the truth about the Company’s business reached the market, the value of its shares declined dramatically, causing Navan investors to suffer significant damages. Indeed, by the commencement of the action, Navan’s shares traded as low as $9.01 per share, representing a decline of over 60% from the Offering Price.
If you purchased or otherwise acquired Navan securities pursuant to the Offering Documents, and were damaged thereby, you are a member of the “Class” and may be able to seek appointment as lead plaintiff.
If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the Northern District of California no later than April 24, 2026. The lead plaintiff is a court-appointed representative for absent class members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.
If you wish to apply to be lead plaintiff, please contact attorney Mandeep S. Minhas at (888) 398-9312 or at [email protected].
CONTACT:
Mandeep S. Minhas
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 24th Floor, New York, NY 10169
(888) 398-9312
[email protected]