Berger Montague Notifies Investors About Securities Fraud Class Action Against Varonis Systems, Inc.

Philadelphia, PA – February 17, 2026: The national plaintiffs’ law firm Berger Montague PC has issued an important reminder to investors of Varonis Systems, Inc. (NASDAQ: VRNS) regarding an ongoing securities fraud class action lawsuit. The firm advises anyone who purchased or otherwise acquired Varonis securities during the specified class period to take action prior to the upcoming deadline.

What Investors Need to Know

According to the announcement, the class action lawsuit has been filed on behalf of investors who acquired Varonis securities between February 4, 2025 and October 28, 2025—the legally defined “Class Period” for the case. Investors affected may, no later than March 9, 2026, seek appointment as a lead plaintiff representative for the class.

Legal Rights and Deadline

If you believe you are eligible, the reminder emphasizes that it’s important to inquire about your potential legal rights as soon as possible. Acting before the March 9 deadline ensures that you can potentially participate in the lawsuit and have your interests represented.

Allegations Against Varonis and its Executives

The lawsuit alleges that Varonis and certain of its senior executives disseminated materially false and misleading statements concerning the company’s ability to convert its existing customers to a new Software-as-a-Service (SaaS) model. These optimistic statements, according to the lawsuit, inflated expectations around the company’s Annual Recurring Revenue (ARR) growth potential.

However, when the truth became public with the company’s third-quarter results for fiscal 2025, investors reacted sharply. On October 28–29, 2025, Varonis disclosed significantly weaker-than-expected results, reporting an ARR miss and reduced future guidance despite prior optimistic forecasts. This announcement triggered a dramatic drop in its stock price.

Share Price Impact

Varonis’ common stock closed at approximately $63.00 per share on October 28, 2025. After the disclosure of the disappointing financial performance, the stock plunged to about $32.34 per share on October 29, 2025. This loss represented a decline of more than 48% in just one day, according to filings.

About Varonis Systems, Inc.

Varonis Systems, Inc. is a cybersecurity and data protection company listed on the NASDAQ under the ticker symbol VRNS. The company’s platform helps organizations secure sensitive data, detect threats, and automate security workflows using AI-driven technologies. Its products are designed to help businesses safeguard critical information stored both on-premises and in cloud environments.

How Investors Can Get Involved

Investors who qualify can contact Berger Montague or another legal representative of their choice to learn more about joining the lawsuit or seeking appointment as lead plaintiff. Appointment as lead plaintiff can give investors a more influential role in how the case is managed, though it is not required to participate in any recovery.

Contact and Support

Investors interested in learning more about the lawsuit are encouraged to reach out directly to Berger Montague or visit the firm’s website for more information on the case and potential next steps. Deadline reminders like this are crucial for ensuring eligible parties can take full advantage of their legal rights.

Legal Disclaimer

Participation in a class action lawsuit does not guarantee any financial recovery or outcome. Investors should consider consulting with qualified legal counsel about their options, the implications of joining such actions, and any related risks. The details provided by Berger Montague and similar filings are for informational purposes and should not be taken as legal advice.

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