Varonis(US:VRNS) Globenewswire·2026-01-13 19:20Core Viewpoint - A shareholder has filed a securities class action lawsuit against Varonis Systems, Inc. for alleged misrepresentations regarding the company's ability to convert its customer base to its SaaS offering, which has impacted its annual recurring revenue growth potential [1][3]. Group 1: Lawsuit Details - The lawsuit represents investors who purchased Varonis common stock between February 4, 2025, and October 28, 2025 [1]. - Defendants are accused of misrepresenting Varonis' capability to convince existing users to transition to its SaaS platform, leading to reduced growth potential in annual recurring revenue [3]. Group 2: Legal Process - Interested parties wishing to serve as lead plaintiff must file papers by March 9, 2026, with the role involving representation of other class members in the litigation [4]. - Participation as a lead plaintiff is not required to share in any potential recovery from the lawsuit, and all representation is on a contingency fee basis, meaning shareholders incur no fees or expenses [4]. Group 3: Firm Background - Bernstein Liebhard LLP has recovered over $3.5 billion for clients since 1993 and has represented both individual investors and large public and private pension funds [5]. - The firm has been recognized for its success in litigating class actions, being named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for sixteen consecutive years [5].