Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Commvault Systems, Inc. (CVLT)

NEW YORK, May 19, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Commvault Systems, Inc. (“Commvault” or the “Company”) (NASDAQ: CVLT) securities between April 29, 2025 to January 26, 2026, inclusive (the “Class Period”).

The Complaint alleges that Defendants provided investors with material information pertaining to Commvault’s projected ARR growth for fiscal year 2026. The Complaint further alleges that Defendants’ statements included, among other things, misleading guidance and projections related to the Company’s new net ARR growth.

The Complaint also alleges that Defendants 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. The Complaint alleges that such statements absent these material facts caused Plaintiff and other shareholders to purchase Commvault’s securities at artificially inflated prices.        

The Complaint further alleges that Defendants failed to disclose to investors that: (i) deceive the investing public, including Plaintiff and other Class members, as alleged herein; (ii) artificially inflate and maintain the market price of Commvault common stock; and (iii) cause Plaintiff and other members of the Class to purchase or otherwise acquire Commvault’s securities at artificially inflated prices. In furtherance of this unlawful scheme, plan and course of conduct, Defendants, and each of them, took the actions set forth herein.

The Complaint alleges that 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. The Complaint also alleges that in particular, ARR growth for the third quarter 2026 was $39 million, which fell short of the $45 million projection provided.

The Complaint alleges that investors and analysts reacted immediately to Commvault’s revelation. The Complaint further alleges that 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.

Investors who purchased or otherwise acquired shares of Commvault should contact the Firm prior to the July 17, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

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