Commvault Securities Class Action Lawsuit Period Extended
Shareholder rights firm Hagens Berman has extended the class period for a securities class action lawsuit against Commvault Systems, Inc. The lawsuit now covers investors who purchased the company's securities between January 28, 2025, and January 26, 2026.
A securities class action lawsuit filed against Commvault Systems, Inc. (NASDAQ: CVLT) has had its alleged class period expanded, according to a notice from national shareholder rights firm Hagens Berman. The lawsuit now covers investors who purchased or acquired Commvault securities between January 28, 2025, and January 26, 2026, inclusive.
The expanded period, detailed in the case "City of Fort Lauderdale Police and Firefighters' Retirement System v. Commvault Systems, Inc., et al.," pushes the start date of the alleged fraud period back from April 29, 2025, to January 28, 2025. Hagens Berman states this expansion captures a broader range of investor activity and amplifies claims against the company and its executives regarding business disclosures.
The litigation alleges that Commvault misrepresented and failed to disclose material facts concerning its competitive positioning. Specifically, the suit claims the company was forced to offer significant price concessions and shorter contract terms due to increased competition, which negatively impacted its margins and net revenue retention (NNARR). It is alleged that the growing mix of Software as a Service (SaaS) sales, which have lower average selling prices, contributed to these issues.
The truth allegedly began to emerge on January 27, 2026, when Commvault announced its third-quarter fiscal year 2026 results. The company reported an NNARR of $39 million in constant currency, missing analyst expectations of approximately $45 million. Management noted that SaaS deals constituted 70% of sales in the quarter, with lower selling prices impacting ARR. In response to this news, Commvault's stock price fell approximately 31%, or $40.23 per share, closing at $89.13 on January 27, 2026.
Hagens Berman is continuing its investigation and encourages Commvault investors who have suffered substantial losses within the expanded class period to contact the firm. The lead plaintiff deadline for the case is July 17, 2026.