Varonis(US:VRNS) Globenewswire·2026-01-15 13:46Core Viewpoint - A class action lawsuit has been filed against Varonis Systems, Inc. for allegedly misleading investors regarding its customer conversion capabilities, leading to a significant drop in stock price [1][3][4] Group 1: Lawsuit Details - The lawsuit is on behalf of investors who acquired Varonis securities between February 4, 2025, and October 28, 2025 [1] - Investors have until March 9, 2026, to seek appointment as lead plaintiff [2] - Allegations include that Varonis and its executives raised investor expectations while knowing the company was not effectively positioned to convert existing customers to its SaaS offering, impacting annual recurring revenue (ARR) growth potential [3] Group 2: Stock Price Impact - Following the revelation of the true state of customer renewals and conversions, Varonis' stock price fell from $63.00 per share on October 28, 2025, to $32.34 per share on October 29, 2025, marking a decline of $30.66 per share, or over 48% in one day [4]