A securities class action has been filed against Commvault Systems, Inc. (CVLT) on behalf of all investors who purchased or otherwise acquired Commvault securities between April 29, 2025 through January 26, 2026. This case has been filed in the USDC – NJ.
Commvault is a data protection company. The firm provides data protection, cyber resilience solutions, and management software, specializing in hybrid and multi-cloud environments.
CVLT provided investors with material information pertaining to Commvault’s projected ARR growth for fiscal year 2026. Defendants’ statements included, among other things, misleading guidance and projections related to the Company’s new net ARR growth.
CVLT provided these 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 Commvault’s ARR growth environment; pertinently, Commvault knew or recklessly disregarded that the Company’s ARR growth guidance failed to properly factor in crucial variables, such as the type of sale. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Commvault’s securities at artificially inflated prices.
The truth emerged on January 27, 2026, when Commvault published third quarter 2026 fiscal results, which included ARR growth below the guidance provided by the Company. In particular, ARR growth for the third quarter 2026 was $39 million, which fell short of the $45 million projection provided.
Investors and analysts reacted immediately to Commvault’s revelation. The price of Commvault’s common stock declined dramatically. From a closing market price of $129.36 per share on January 26, 2026, Commvault’s stock price fell to $89.13 per share on January 27, 2026, a decline of over 31% in a single day.