The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Varonis Systems, Inc. (“Varonis” or “the Company”) (NASDAQ: VRNS) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Varonis issued a press release on October 31, 2022, announcing its results for the third quarter of 2022. The Company’s earnings per share fell short of analysts’ expectations and its projected earnings for the fourth quarter were also significantly below analysts’ estimates. The Company’s CEO blamed the poor performance on "the continued effect of the war in the Ukraine, the energy crisis and general economic slowdown were more impactful than we expected." Based on this news, shares of Varonis fell by more than 35% on November 1, 2022.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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