Law Firm Investigates Whether Company and Its Executives Violated Federal Securities Laws in Connection with October 2025 IPO

Highful Law PLLC is investigating potential claims on behalf of purchasers of Navan, Inc. (NASDAQ: NAVN) traceable to the Company's October 30, 2025 initial public offering ("IPO").

Investors who purchased Navan securities are encouraged to obtain additional information and assist the investigation by visiting www.highful.law or by contacting the firm at info@highful.law.

On October 30, 2025, Navan completed its IPO, selling approximately 36.9 million shares of Class A common stock at $25.00 per share, raising approximately $923 million. The Registration Statement filed in connection with the IPO touted the Company's improving financial trajectory, including a reduction in net losses and improving gross margins.

On December 15, 2025, the Company reported third quarter fiscal year 2026 results revealing a net loss approximately five times the net loss reported in the same quarter of the prior year. The Company also announced that Chief Financial Officer Amy Butte would depart effective January 9, 2026, just six weeks after the IPO, pursuant to a transition agreement that included a $3.7 million cash payment and 100% accelerated vesting of her equity awards. Following these disclosures, Navan's stock price declined significantly.

Highful Law PLLC is investigating whether Navan and certain of its officers and may have violated federal securities laws by issuing a Registration Statement that contained materially false or misleading statements or omitted material information relating to the Company's deteriorating financial performance in the quarter ending October 31, 2025.

If you purchased Navan securities in or traceable to the October 30, 2025 IPO and would like to discuss your legal rights, please contact Highful Law PLLC at info@highful.law.

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About Highful Law PLLC

Highful Law PLLC is a boutique law firm in Austin, Texas, dedicated to representing plaintiffs in securities litigation. With a focus on strategic, client-centered representation, the firm combines defense-side insight with a commitment to corporate accountability. Find out more at www.highful.law.

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Navan, Inc. is under investigation for potential false or misleading statements in its IPO registration statement.