Robbins Geller Rudman & Dowd LLP announced that purchasers of Commvault Systems securities between April 29, 2025 and January 26, 2026 have until July 17, 2026 to seek appointment as lead plaintiff in a class action lawsuit. The suit alleges that Commvault and certain executives made false or misleading statements about annualized recurring revenue growth, failing to disclose the impact of different sale types on net new ARR. On January 27, 2026, Commvault reported third-quarter net new ARR of $39 million, below the previously guided $45 million, causing its stock to fall more than 31%. The lead plaintiff will direct the litigation on behalf of all class members and may select a law firm of its choice.
CommVault Systems IncClass action lawsuit alleges false statements about ARR growth, causing stock to drop 31%.