CVLT DEADLINE: Levi & Korsinsky Reminds Commvault Systems, Inc. Investors of Upcoming Securities Class Action Deadline

Key Dates and Disclosure Events Shareholders Need to Know: Commvault Allegedly Raised ARR Growth Projections Twice Before a $40.23 Per-Share Collapse Revealed the Guidance Was Built on Flawed Assumptions

NEW YORK, May 27, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP encourages investors who suffered losses in Commvault Systems, Inc. (NASDAQ: CVLT) to contact the firm. Those who purchased CVLT securities between April 29, 2025 and January 26, 2026 may be entitled to recover damages. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

Shares fell $40.23 per share, a decline of over 31%, on January 27, 2026. The window to apply for lead plaintiff closes on July 17, 2026.

Chronology of Material Events

The securities action against Commvault traces a pattern of escalating promises followed by a single-day reckoning. The following dates frame the alleged scheme:

April 29, 2025 — Initial FY2026 ARR Guidance Issued

Commvault announced fiscal year 2025 results and set initial FY2026 projections. Management guided for total ARR growth of 16% to 17% and subscription ARR growth of 22% to 23%. The lawsuit contends this baseline guidance already failed to account for the impact of product mix on ARR calculations.

July 29, 2025 — First Guidance Raise to 18% ARR Growth

After reporting first quarter FY2026 results, Commvault raised total ARR growth guidance to 18% and subscription ARR growth to 24%. During the same call, management projected approximately $40 million in total net new ARR per quarter for the remainder of the fiscal year. As alleged, SaaS deals were already landing at average selling prices 2 to 3 times lower than term software licenses, a dynamic management did not adequately disclose.

October 28, 2025 — Second Guidance Raise and $45 Million Quarterly Target

Commvault raised guidance again, projecting total ARR growth of 18% to 19% and subscription ARR growth of 24% to 25%. The quarterly net new ARR target was lifted from $40 million to $45 million. The filing states management touted that "our investments are paying off" while allegedly knowing the accelerating SaaS mix carried structurally lower ASPs.

December 4, 2025 — CFO Departure Announced

Commvault disclosed that its Chief Financial Officer would depart at the end of the calendar year, with the CEO assuming oversight of a newly created Office of the CFO.

January 27, 2026 — Third Quarter Results Reveal ARR Miss: $39 Million vs. $45 Million Target

Commvault reported net new ARR of $39 million, missing the $45 million projection. Management attributed the shortfall to a 70% SaaS mix in net new ARR and longer-duration term deals. Shares collapsed 31% in a single trading session.

Timeline of Alleged Disclosure Failures

• April 29, 2025: Initial guidance set without disclosure that sale type significantly impacts ARR growth rates
• July 29, 2025: Guidance raised and $40M quarterly target issued despite known SaaS ASP differential
• October 28, 2025: Guidance raised again to $45M target while SaaS mix was reportedly accelerating
• December 4, 2025: CFO departure announced with no update to ARR guidance or risk disclosures
• January 27, 2026: $39M ARR reported, management admitted SaaS deals land at 2 to 3x lower ASPs
• January 27, 2026: CVLT shares declined $40.23 to close at $89.13, destroying over 31% of market value

"Timely disclosure of material developments is fundamental to fair and efficient markets. The chronology here raises questions about why guidance was repeatedly raised when internal dynamics pointed in the opposite direction," stated Joseph E. Levi, Esq.

Submit your claim before the deadline or call (212) 363-7500.

About Levi & Korsinsky, LLP

For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years. Those wishing to serve as lead plaintiff must act by July 17, 2026.

Frequently Asked Questions About the CVLT Lawsuit

Q: When did Commvault allegedly mislead investors? A: The class period runs from April 29, 2025 to January 26, 2026. The alleged fraud was revealed through corrective disclosures on January 27, 2026, causing a 31% stock decline.

Q: How much did CVLT stock drop? A: Shares fell approximately 31%, a decline of $40.23 per share, after Commvault disclosed that third quarter net new ARR of $39 million missed the $45 million projection. Investors who purchased shares during the class period at artificially inflated prices may be entitled to compensation.

Q: What do CVLT investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as a class member.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I already sold my CVLT shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What court was the CVLT class action filed in? A: The case was filed in the United States District Court for the District of New Jersey, governed by the Private Securities Litigation Reform Act of 1995.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP