Company Announcements

Notice to Pension Funds, Asset Managers, and Fiduciaries

NEW YORK , March 18, 2026 /PRNewswire/ -- Institutional investors holding positions in Navan, Inc. (Nasdaq: NAVN) acquired pursuant or traceable to the Company's October 31, 2025 initial public offering may wish to evaluate lead plaintiff opportunities in a pending securities class action. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or ☎(212) 363-7500.

Shares purchased at the $25 IPO price have declined to as low as $9.20 before the lawsuit was filed. The Court has set April 24, 2026 as the deadline to apply for lead plaintiff appointment.

Fiduciary Obligations and Recovery Options

Pension funds, mutual funds, and asset managers that acquired NAVN shares in the IPO owe fiduciary duties to their beneficiaries to evaluate all avenues for loss recovery. The Private Securities Litigation Reform Act of 1995 favors institutional investors as lead plaintiffs, recognizing their capacity to oversee complex securities litigation on behalf of a broader class.

Key considerations for fiduciaries include:

• Institutions that purchased NAVN shares at $25 in the October 2025 IPO and held through December 16, 2025 experienced per-share losses of approximately $12.10 based on the post-disclosure closing price
• The PSLRA presumes that the investor with the largest financial interest should serve as lead plaintiff, a role well suited to institutional holders
• Lead plaintiff appointment carries no additional financial obligation; counsel fees are paid from any recovery obtained for the class
• Fiduciaries who fail to evaluate participation in securities recoveries may face questions from beneficiaries regarding their oversight responsibilities
• The lawsuit asserts strict liability and negligence claims under §§11, 12, and 15 of the Securities Act of 1933, which do not require proof of fraudulent intent

Portfolio Impact Assessment

The action contends that Navan's Offering Documents omitted material information about a 39% surge in sales and marketing expenses during the quarter ending October 31, 2025, the same day as the IPO. This omission allegedly rendered statements about the Company's "rapid growth" and key financial metrics misleading to investors who relied on the Offering Documents when making allocation decisions.

Contact us for institutional recovery options or call ☎(212) 363-7500.

Case Summary

The class action was filed in the United States District Court for the Northern District of California on behalf of all persons and entities that purchased Navan common stock issued pursuant or traceable to the IPO.

"Institutional investors play a critical role in securities class actions. Their participation strengthens the class and ensures that fiduciary interests are represented by parties with the resources and standing to oversee litigation involving alleged IPO disclosure failures of this magnitude." -- Joseph E. Levi, Esq.

INSTITUTIONAL INVESTOR REPRESENTATION -- Levi & Korsinsky, LLP provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP