Varonis(US:VRNS) TMX Newsfile·2026-01-26 16:06Core Viewpoint - A class action lawsuit has been filed against Varonis Systems, Inc. for allegedly misleading investors regarding its ability to convert its customer base and the impact on annual recurring revenue growth potential [1][3]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who acquired Varonis securities between February 4, 2025, and October 28, 2025 [1][2]. - Investors have until March 9, 2026, to seek appointment as lead plaintiff representative [2]. Group 2: Company Performance and Impact - Varonis announced a significant miss in annual recurring revenue (ARR) and reduced its guidance for the full fiscal year 2025 on October 28, 2025, after previously raising projections for two consecutive quarters [4]. - The company cited weaker than expected renewals and conversions in its on-premises subscription business as reasons for the poor performance [4]. - Following the announcement, Varonis' stock price plummeted from $63.00 to $32.34, a decline of over 48% in one day [5]. Group 3: Company Background - Varonis is a global security company that offers software products to detect advanced security threats using AI-powered technologies [2].