Varonis(US:VRNS) Businesswire·2026-03-09 17:18Core Viewpoint - Faruqi & Faruqi, LLP is reminding Varonis investors of the deadline to seek lead plaintiff status in a federal securities class action lawsuit, which alleges that Varonis Systems, Inc. made false and misleading statements regarding its business performance and growth potential [1]. Group 1: Legal Action and Deadlines - The deadline for investors to seek lead plaintiff status in the class action lawsuit against Varonis is March 9, 2026 [1]. - Investors who purchased Varonis securities between February 4, 2025, and October 28, 2025, are encouraged to contact Faruqi & Faruqi for legal options [1]. Group 2: Allegations Against Varonis - The lawsuit claims that Varonis and its executives violated federal securities laws by providing overly positive statements while concealing material adverse facts about the company's ability to convert its customer base to a SaaS model [1]. - The complaint highlights that Varonis was not adequately equipped to convince existing users of the benefits of its SaaS offering, leading to reduced annual recurring revenue (ARR) growth potential [1]. Group 3: Financial Impact - On October 28, 2025, Varonis reported a significant miss in ARR and lowered its full-year guidance, attributing this to weaker-than-expected renewals and conversions in its subscription business [1]. - Following the announcement, Varonis' stock price plummeted from $63.00 per share to $32.34 per share on October 29, 2025, marking a decline of approximately 48.67% in one day [1].