NEW YORK, Jan. 07, 2026 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired common stock of Varonis Systems, Inc. (“Varonis” or the “Company”) (NASDAQ: VRNS) between February 4, 2025, and October 28, 2025, inclusive. You are hereby notified that the class action lawsuit Artem Molchanov v. Varonis Systems, Inc., et al. (Case No. 1:26-cv-00117) has been commenced in the United States District Court for the Southern District of New York. To get more information go to:
https://zlk.com/pslra-1/varonis-systems-inc-lawsuit-submission-form
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Varonis’ ability to convert its existing customer base; notably, that it was not truly equipped to convince existing users of the benefits of converting to the SaaS offering or otherwise maintain those customers on its platform, resulting in significantly reduced ARR growth potential in the near-term.
On October 28, 2025, Varonis announced its financial results for the third quarter of fiscal 2025, disclosing a significant miss to ARR and reducing its projections for the full fiscal year 2025, despite previously uplifting guidance for the previous two consecutive quarters. The Company attributed its results and lowered guidance on weaker than expected renewals and conversions in their federal and non-federal on-premises subscription business. Varonis further resultantly announced the end of life of the self-hosted solution and a 5% headcount reduction.
Following this news, Varonis’ common stock declined dramatically. From a closing market price of $63.00 per share on October 28, 2025, Varonis’ stock price fell to $32.34 per share on October 29, 2025, a decline of about 48.67% in the span of just a single day.
“Our firm is committed to ensuring that investors receive full compensation for losses caused by corporate misrepresentations,” said Joseph E. Levi, a partner at Levi & Korsinsky. “We encourage VRNS shareholders to step forward before the March 9, 2026 deadline so we can pursue justice on their behalf.”
If you suffered a loss in VRNS common stock, you have until March 9, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
