Overview

A class action lawsuit has been filed against Commvault Systems Inc. (“Commvault” or the “Company”) (NASDAQ: CVLT) and certain of the Company’s senior executive officers (collectively, “Defendants”) alleging violations of the federal securities laws. The Commvault lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Commvault common stock between April 29, 2025, and January 26, 2026, inclusive (the “Class Period”). Investors have until July 17, 2026, to seek appointment as lead plaintiff of the Commvault class action lawsuit.

Commvault is a provider of data protection, cyber resilience, and cloud data management software solutions. The Company offers software and services designed to help organizations protect, manage, and recover data across hybrid and multi-cloud environments.

According to the complaint, throughout the Class Period, Commvault repeatedly assured investors that it was experiencing strong annual recurring revenue (“ARR”) growth and issued increasingly optimistic guidance regarding its fiscal year 2026 ARR performance. The Company represented that subscription revenue, SaaS adoption, customer growth, and new ARR generation would continue to drive sustained growth throughout the fiscal year.

The complaint alleges that these statements were materially false and misleading because Commvault’s ARR guidance failed to adequately account for the impact that different types of sales, particularly the growing mix of SaaS and longer-duration software deals, would have on net new ARR growth. According to the lawsuit, Defendants knew or recklessly disregarded that the Company’s projected ARR growth was not reasonably supported by underlying sales dynamics and that its guidance overstated expected performance.

The truth began to emerge on January 27, 2026, when Commvault reported third-quarter fiscal 2026 results. The Company disclosed that net new ARR growth for the quarter was approximately $39 million, falling short of the roughly $45 million level previously communicated to investors. During the earnings call, management attributed the shortfall to a greater-than-expected mix of SaaS customer acquisitions and longer-duration software agreements, which affected the Company’s ARR calculations.

Analysts reacted negatively to the disclosure, with several firms lowering their ratings or price targets on the stock and questioning management’s explanation for the ARR miss. Following the announcement, Commvault’s stock price fell more than 31%, declining from $129.36 per share on January 26, 2026, to $89.13 per share on January 27, 2026.

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If you purchased or otherwise acquired Commvault common stock between April 29, 2025, and January 26, 2026, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara and Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Commvault class action lawsuit is July 17, 2026.