Saxena White P.A. Files New Securities Class Action Lawsuit Against Commvault Systems, Inc. and Related Parties, Expanding the Allegations and Class Period

BOCA RATON, Fla., July 02, 2026 (GLOBE NEWSWIRE) -- Saxena White P.A. has filed a securities class action lawsuit (the “Class Action”) in the United States District Court for the District of New Jersey against Commvault Systems, Inc. (“Commvault” or the “Company”) (Nasdaq: CVLT), and certain Commvault executive officers (“Defendants”). The Class Action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and U.S. Securities and Exchange Commission (“SEC”) Rule 10b-5 promulgated thereunder on behalf of all persons and entities that purchased or otherwise acquired Commvault securities between January 28, 2025 and January 26, 2026, inclusive (the “Class Period”), and were damaged thereby. The Class Action filed by Saxena White is captioned City of Fort Lauderdale Police and Firefighters’ Retirement System v. Commvault Systems, Inc., et al., No. 3:26-cv-08144 (D.N.J.).

The Class Action complaint expands the allegations and class period asserted in a related action against Commvault and certain of its executive officers captioned Imbert v. Commvault Systems, Inc., et al., No. 3:26-cv-05654 (D.N.J. filed May 18, 2026) (the “Imbert Action”). Specifically, the Class Action expands the class period pled from April 29, 2025 through January 26, 2026 in the Imbert Action, to January 28, 2025 through January 26, 2026 in the Class Action, on behalf of all persons and entities that purchased or otherwise acquired Commvault securities.

Pursuant to the notice published on May 18, 2026 in connection with the filing of the Imbert Action, and as required by the Private Securities Litigation Reform Act of 1995 (PSLRA), investors wishing to serve as lead plaintiff are required to file a motion for appointment as lead plaintiff by no later than July 17, 2026. Saxena White’s filing of the Class Action does not alter the lead plaintiff deadline.

Commvault provides on-premise software licenses and cloud-delivered Software as a Service (“SaaS”) products for protecting and restoring customer data and cloud applications. Commvault’s key performance metrics are Annualized Recurring Revenue (“ARR”) and Net New ARR (“NNARR”), which measures the net increase in ARR during a given period. Leading up to the Class Period, Commvault repeatedly claimed that it was strategically positioned to outpace its competitors in growth and would continue to gain market share.

The Class Action alleges that Defendants misled investors regarding the Company’s prospects, financial condition, and competitive position. Specifically, Defendants failed to disclose that: (1) Commvault’s competitive positioning was materially weaker than Defendants had represented to investors; (2) due to the undisclosed increase in competition, Commvault was forced to make significant concessions on price and contract duration for its software licenses; (3) as these concessions became unsustainable, SaaS became a larger portion of the Company’s sales mix; and (4) in turn, the increasing mix of SaaS sales, which carry shorter term durations and lower average selling prices (“ASP”), negatively impacted the Company’s margin and NNARR.

The truth emerged before markets opened on January 27, 2026, when Commvault announced its financial results for the third-quarter of fiscal year 2026. Commvault disclosed NNARR in constant currency of $39 million, missing analysts’ expectations of approximately $45 million. The Company further revealed that the mix of SaaS deals increased to “70%” during the quarter and highlighted that “landing these customers at a 2 to 3x smaller ASP than software . . . does have a significant impact on ARR.” On this news, the price of Commvault common stock fell $40.23 per share, or about 31%, to close at a price of $89.13 per share on January 27, 2026.

If you purchased Commvault securities during the Class Period and were damaged thereby, you are a member of the “Class” and may be able to seek appointment as lead plaintiff. If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the District of New Jersey no later than July 17, 2026. The lead plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.

You may contact Marco A. Dueñas (mduenas@saxenawhite.com), a Senior Attorney at Saxena White P.A., to discuss your rights regarding the appointment of lead plaintiff or your interest in the Class Action. You also may retain counsel of your choice to represent you in the Class Action. You may obtain a copy of the Complaint and inquire about actively joining the Class Action at www.saxenawhite.com.

Saxena White P.A., with offices in Florida, New York, California, and Delaware, is a leading national law firm focused on prosecuting securities class actions and other complex litigation on behalf of injured investors. Currently serving as lead counsel in numerous securities class actions nationwide, Saxena White has recovered billions of dollars on behalf of injured investors.

CONTACT INFORMATION
Marco A. Dueñas, Esq.
mduenas@saxenawhite.com
Saxena White P.A.
10 Bank Street, Suite 882
White Plains, New York 10606
Tel.: (914) 200-3263
www.saxenawhite.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.