Glancy Prongay Wolke & Rotter LLP reminds investors that July 17, 2026 is the deadline to file a lead plaintiff motion in a class action lawsuit against Commvault Systems Inc. The lawsuit covers those who purchased or acquired Commvault securities between April 29, 2025 and January 26, 2026. The action follows a January 27, 2026 disclosure that Commvault's third-quarter fiscal 2026 annualized recurring revenue growth was 22% and total net new ARR was $39 million, missing prior guidance of $45 million, which management attributed to product mix including increased SaaS deals. On that news, Commvault's stock fell $40.23, or 31.1%, to close at $89.13 per share. The complaint alleges that defendants made materially false and misleading statements and failed to disclose that the impact of different sale types on ARR growth was known or recklessly disregarded, rendering positive statements about the company's business, operations, and prospects misleading.
CommVault Systems IncClass action lawsuit over alleged misleading statements about ARR growth, causing 31% stock drop.