Navan Investors Face April 24 Deadline to Seek Lead Plaintiff in IPO Lawsuit

The lead plaintiff will set strategy for a suit alleging Navan hid a sharp rise in sales costs before its 2025 IPO.

Overview

Investors in Navan’s October 2025 IPO have until April 24, 2026 to ask a federal court to appoint them as lead plaintiff in McCown v. Navan, Inc. in the Northern District of California.
The complaint says Navan’s registration statement left out a jump in sales and marketing spending to about $95 million for the quarter ended Oct. 31, 2025, a 39% rise from roughly $68.5 million the prior quarter.
After Navan later disclosed the expense spike and the sudden exit of CFO Amy Butte in mid‑December 2025, the stock fell nearly 12% in one day and has traded as low as $9.16, about 63% below the $25 IPO price.
Hagens Berman is urging investors to report losses and is inviting whistleblowers to share non‑public information through the SEC program, which can award up to 30% of eligible recoveries.
Rosen Law Firm is also recruiting clients, and the investor chosen as lead plaintiff after the deadline will guide litigation choices while no class has been certified yet.