Varonis(US:VRNS) TMX Newsfile·2026-02-19 02:59Core Viewpoint - Varonis Systems, Inc. is facing a class action lawsuit due to allegations of misleading statements regarding its ability to maintain annual recurring revenue (ARR) projections while transitioning customers to a software-as-a-service (SaaS) model [5]. Group 1: Class Action Details - The class action pertains to purchasers of Varonis common stock between February 4, 2025, and October 28, 2025, with a lead plaintiff deadline set for March 9, 2026 [1]. - Investors who purchased Varonis stock during the specified period may be eligible for compensation without incurring out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by contacting the Rosen Law Firm [3][6]. Group 2: Allegations Against Varonis - The lawsuit claims that Varonis made materially false and misleading statements regarding its ability to maintain ARR projections while converting existing on-premises customers to a SaaS model [5]. - It is alleged that Varonis was not adequately prepared to convince existing users of the benefits of the SaaS offering, leading to reduced ARR growth potential in the near term [5]. - The lawsuit asserts that the positive statements made by Varonis about its business and prospects were materially misleading and lacked a reasonable basis, resulting in investor damages when the truth was revealed [5]. Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm specializes in securities class actions and has a strong track record, having achieved the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been ranked No. 1 for the number of securities class action settlements in 2017 and has consistently ranked in the top 4 since 2013, recovering hundreds of millions of dollars for investors [4]. - In 2019, the firm secured over $438 million for investors, showcasing its effectiveness in representing investor rights [4].