Varonis(US:VRNS) Globenewswire·2026-01-12 20:34Core Viewpoint - A class action has been filed against Varonis Systems, Inc. for allegedly misleading investors about its business prospects and financial performance during the specified period [1][2]. Allegations - The complaint claims that Varonis misrepresented its revenue outlook and growth potential while downplaying risks associated with seasonality and macroeconomic factors [2]. - It is alleged that Varonis' optimistic reports regarding growth and cost-cutting measures did not reflect the reality of its sales effectiveness and ability to convert clients to its SaaS offerings [2]. Financial Impact - On October 28, 2025, Varonis reported third-quarter results that fell short of prior projections and subsequently lowered its full-year guidance [3]. - Following this announcement, Varonis' stock price plummeted from $63.00 per share to $32.34 per share, marking a decline of approximately 48.67% in just one day [3]. Class Action Participation - Shareholders interested in serving as lead plaintiffs must submit their papers by March 9, 2026, but participation is not required to be eligible for recovery [4]. - The representation in the class action is on a contingency fee basis, meaning shareholders will incur no fees or expenses [5].