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Hagens Berman Investigating Varonis (VRNS) Over Alleged SaaS Transition Failure and Undisclosed Renewal Softness in Securities Class Action
Prnewswire· 2026-02-20 17:41
Core Viewpoint - Hagens Berman is investigating Varonis Systems, Inc. (NASDAQ: VRNS) over allegations of failing to disclose significant issues related to its transition to a Software-as-a-Service (SaaS) model, which has led to a substantial decline in revenue and stock value [1]. Group 1: Allegations and Lawsuit Details - The lawsuit claims that Varonis executives concealed renewal softness in its Federal vertical and legacy on-premises business while promoting a successful transition to SaaS [1]. - Following a disclosure on October 28, 2025, Varonis reported a 63.9% year-over-year decline in term license revenue and a reduced Annual Recurring Revenue (ARR) outlook, resulting in a 48% drop in stock price, equating to a loss of approximately $3.8 billion in market value [1]. - The investigation focuses on whether Varonis violated federal securities laws by failing to disclose the significant decline in renewals and the challenges in converting existing customers to the SaaS model [1]. Group 2: Financial Impact and Stock Performance - On the news of the revenue decline, Varonis shares plummeted from $63.00 to $32.34 in a single day, representing a nearly 50% loss in shareholder value [1]. - The company significantly reduced its Q4 revenue and full-year ARR guidance following the Q3 performance miss, indicating a serious impact on its financial outlook [1]. - The lawsuit alleges that Varonis misrepresented its ability to convert on-premises customers to SaaS, claiming strong retention and renewal rates, which were contradicted by the actual performance [1]. Group 3: Next Steps for Investors - Hagens Berman is advising investors who purchased VRNS shares during the class period from February 4, 2025, to October 28, 2025, and experienced substantial losses to contact the firm [1]. - The lead plaintiff deadline for the pending lawsuit is set for March 9, 2026, urging affected investors to take action [1].
Hagens Berman Investigating Claims Against Ardent Health (ARDT) Over Alleged $97M Accounting Shock and "180-Day Cliff" Reserves
Prnewswire· 2026-02-20 17:39
Core Viewpoint - Hagens Berman is investigating claims against Ardent Health, Inc. (ARDT) related to a $97 million accounting issue and a "180-day cliff" reserve policy that allegedly misrepresented the company's financial health [1] Financial Disclosures - In November 2025, Ardent Health revealed it used a rigid 180-day cliff for reserving uncollectible accounts, conflicting with previous claims of using detailed historical reviews for receivables valuation [1] - The company's stock price dropped nearly 34% following the disclosures on November 12, 2025, which included a $54 million increase in professional liability reserves due to social inflation and ongoing litigation [1] - Ardent Health also reported a revenue reduction of $42.6 million due to a transition to a new accounting method for estimating collectability of accounts receivable [1] Allegations of Misconduct - The pending litigation alleges that Ardent Health and its executives violated U.S. securities laws by failing to disclose critical financial information, including insufficient professional malpractice liability insurance and inadequate reserves [1] - The complaint suggests that Ardent's accounting practices allowed the company to report inflated receivables during the class period, undermining the integrity of its financial statements [1]
Pyramid Consulting Joins the Jack Henry™ Fintech Integration Network
Prnewswire· 2026-02-20 17:28
Core Insights - Celsior Technologies has joined the Jack Henry Fintech Integration Network (FIN), enabling integration with Jack Henry's core platforms to enhance digital transformation for regulated industries [1][2][3] Company Overview - Celsior Technologies specializes in providing technology and workforce solutions aimed at digital transformation, particularly for financial services [1][6] - The company focuses on delivering customized, outcome-driven technology solutions that optimize operations and drive digital transformation [6] Integration and Collaboration - Through FIN, Celsior can help banks modernize digital workflows, improve operational efficiency, and accelerate technology initiatives that comply with regulatory and security standards [3][4] - The integration with Jack Henry's core platform via jXchange™ allows for secure access to core data and business rules, ensuring data integrity and consistent data exchange [2][3] Strategic Benefits - Celsior's participation in FIN strengthens its capability to provide secure, scalable, and integration-ready technology solutions to financial institutions [4] - The collaboration allows Celsior to work closely with Jack Henry customers, enhancing their platform modernization and improving customer and operational experiences [4]
S&P Global to Present at Raymond James' 47th Annual Institutional Investors Conference on March 3, 2026
Prnewswire· 2026-02-20 17:15
Core Viewpoint - S&P Global will participate in Raymond James' 47th Annual Institutional Investors Conference on March 3, 2026, where key executives will discuss the company's strategies and outlook [1]. Group 1: Event Details - Martina Cheung, President and CEO, and Eric Aboaf, CFO, will speak from 11:00 a.m. to 11:30 a.m. (Eastern Time) [1]. - The session will be webcast live and will include forward-looking information [1]. - A replay of the webcast will be available within 24 hours and accessible for 90 days, ending on May 31, 2026 [1]. Group 2: Company Overview - S&P Global provides trusted data, expertise, and technology to help businesses, governments, and individuals make informed decisions [1]. - The company focuses on advancing essential intelligence through benchmarks, data, and insights necessary for economic planning and decision-making [1]. - S&P Global supports clients in assessing investments across various markets and navigating challenges in energy, artificial intelligence, and market evolution [1].
Abbott declares 409th consecutive quarterly dividend
Prnewswire· 2026-02-20 16:38
Core Viewpoint - Abbott has declared its 409th consecutive quarterly dividend of 63 cents per share, highlighting its long-standing commitment to returning value to shareholders and its status as a member of the S&P 500 Dividend Aristocrats Index [1][1]. Group 1: Dividend Information - The quarterly common dividend of 63 cents per share is payable on May 15, 2026, to shareholders of record as of April 15, 2026 [1]. - Abbott has increased its dividend payout for 54 consecutive years, demonstrating consistent growth in shareholder returns [1]. Group 2: Company Overview - Abbott is a global healthcare leader with a diverse portfolio that includes diagnostics, medical devices, nutritionals, and branded generic medicines [1]. - The company employs approximately 115,000 colleagues and serves customers in over 160 countries [1].
Allstate announces preferred dividends payable April 15, 2026
Prnewswire· 2026-02-20 16:05
Core Viewpoint - The Allstate Corporation has declared approximately $29.3 million in aggregate dividends on three series of preferred stock for the period from January 15, 2026, to April 14, 2026, with payments scheduled for April 15, 2026 [1]. Dividend Information - The preferred dividends are payable in cash to stockholders of record as of March 31, 2026, with the following details: - Series H: Annual Dividend Rate of 5.100%, Quarterly Amount of $0.3187500 per depositary share - Series I: Annual Dividend Rate of 4.750%, Quarterly Amount of $0.2968750 per depositary share - Series J: Annual Dividend Rate of 7.375%, Quarterly Amount of $0.4609375 per depositary share [1]. Company Overview - The Allstate Corporation provides protection against life's uncertainties through affordable and connected protection products for autos, homes, electronic devices, and identities, distributed via a broad network including Allstate agents, independent agents, major retailers, online platforms, and workplaces [1]. - The company has 211 million policies in force and is recognized for its slogan "You're in Good Hands with Allstate" [1].
CoreWeave, Inc. (CRWV) Facing Securities Class Action Over Alleged Data Center Delays and Concealed Infrastructure Risks - Hagens Berman
Prnewswire· 2026-02-20 15:32
Core Viewpoint - CoreWeave, Inc. is facing a securities class action lawsuit alleging that the company misled investors about its ability to scale its AI infrastructure and meet revenue guidance, leading to significant financial losses for shareholders [1][1]. Group 1: Allegations and Impact - The lawsuit claims that CoreWeave overstated its capacity to meet customer demand and concealed operational risks associated with reliance on a single third-party data center supplier [1][1]. - Following the revelation of delays at a critical data center in Denton, Texas, CoreWeave's market capitalization dropped by approximately $14 billion [1][1]. - The company experienced a 16% stock price decline on November 11 after lowering its revenue guidance, contributing to a series of stock drops that resulted in billions in lost shareholder value [1][1]. Group 2: Operational Concerns - Plaintiffs allege that CoreWeave's ability to recognize revenue from its multibillion-dollar backlog was dependent on infrastructure that management was aware was not on track for timely completion [1][1]. - The complaint highlights that CoreWeave downplayed significant delays at its Denton facility, contradicting management's claims of "rapid scaling" [1][1]. - A Wall Street Journal report indicated that the completion of the Denton facility had been delayed by several months due to severe construction hurdles [1][1]. Group 3: Legal Proceedings - Hagens Berman, the law firm representing the plaintiffs, is actively advising investors who purchased CoreWeave shares during the class period from March 28, 2025, to December 15, 2025, and suffered losses [1][1]. - The deadline for lead plaintiffs to submit their claims is set for March 13, 2026 [1][1].
ZIONS BANCORPORATION RECEIVES 15 COALITION GREENWICH BEST BANK AWARDS FOR 2026
Prnewswire· 2026-02-20 15:23
Core Insights - Zions Bancorporation has been awarded 15 Best Bank Awards by Coalition Greenwich for 2026, recognizing its service to middle market and small business clients [1][3] - The bank has consistently averaged 15 or more awards annually since the inception of the awards in 2009, making it one of only four U.S. banks to achieve this [1][3] - Zions Bancorporation has received a total of 261 awards from Coalition Greenwich over 17 years [3] Awards and Recognition - The awards are based on approximately 25,000 market research interviews with businesses, evaluating over 500 banks, with 46 recognized for distinctive quality [2] - Zions received awards in various categories, including Best Bank for Trust, Customer Service, and Advisory Capabilities [4][9] - Specific categories of recognition include Middle Market ($10-$500 million in annual sales) and Small Business ($1-$10 million in annual sales) [5][6] Company Overview - As of December 31, 2025, Zions Bancorporation has approximately $89 billion in total assets and annual net revenue of $3.4 billion for 2025 [7] - The bank operates under local management teams and distinct brands across 11 western states, including Arizona, California, and Texas [7] - Zions is recognized as a leader in public finance advisory services and Small Business Administration lending, and is included in the S&P MidCap 400 and NASDAQ Financial 100 indices [7]
PMI SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Reminds Picard Medical (PMI) Investors of Securities Class Action Deadline on April 13, 2026
Prnewswire· 2026-02-20 15:22
PMI SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Reminds Picard Medical (PMI) Investors of Securities Class Action Deadline on April 13, 2026 [Accessibility Statement] Skip NavigationFaruqi & Faruqi, LLP Securities Litigation Partner [James (Josh) Wilson] Encourages Investors Who Suffered Losses Exceeding $50,000 In Picard Medical To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $50,000 in [Picard Medical] between September 2, 2025 and October 31, 2025 and would like to ...
PYPL SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Reminds PayPal (PYPL) Investors of Securities Class Action Deadline on April 20, 2026
Prnewswire· 2026-02-20 15:19
PYPL SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Reminds PayPal (PYPL) Investors of Securities Class Action Deadline on April 20, 2026 [Accessibility Statement] Skip NavigationFaruqi & Faruqi, LLP Securities Litigation Partner [James (Josh) Wilson] Encourages Investors Who Suffered Losses Exceeding $50,000 In PayPal To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $50,000 in [PayPal] between February 25, 2025 and February 2, 2026 and would like to discuss your legal rig ...