Varonis(US:VRNS) Globenewswire·2026-01-19 18:13Core Viewpoint - A class action lawsuit has been filed against Varonis Systems, Inc. for allegedly making materially false and misleading statements regarding its business operations and growth potential during the specified Class Period from February 4, 2025, to October 28, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Varonis was unable to maintain its Annual Recurring Revenue (ARR) projections while transitioning existing on-prem customers to a software-as-a-service (SaaS) model [5]. - It is alleged that Varonis lacked the capability to persuade existing users to convert to the SaaS offering, leading to a significant reduction in near-term ARR growth potential [5]. - The lawsuit asserts that the positive statements made by Varonis regarding its business and prospects were materially misleading and lacked a reasonable basis, resulting in investor damages when the truth was revealed [5]. Group 2: Participation Information - Investors who purchased Varonis common stock during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm directly for more information [3][6]. - A lead plaintiff must file a motion with the court by March 9, 2026, to represent other class members in the litigation [1][3].