Varonis Investors Face March 9 Deadline to Lead Securities Class Action Over SaaS Conversion Claims

Overview

• Multiple investor firms, including Berger Montague, Rosen, Bernstein Liebhard, Levi & Korsinsky, The Gross Law Firm, and Faruqi & Faruqi, are soliciting shareholders to seek lead‑plaintiff appointment.
• The case was filed in the U.S. District Court for the Southern District of New York on behalf of investors who bought Varonis securities between February 4, 2025 and October 28, 2025.
• Notices emphasize that no class has been certified and that investors must move by March 9, 2026 to be considered for the lead‑plaintiff role.
• The complaints center on claims that Varonis could not maintain near‑term ARR while shifting federal and non‑federal on‑prem customers to SaaS and that prior statements overstated that capability.
• The suit follows Varonis’ October 28, 2025 disclosure of a significant ARR miss, reduced guidance, the end‑of‑life of its self‑hosted product, a 5% workforce reduction, and a one‑day stock drop of more than 48%.