Market Newsdesk

SAN FRANCISCO, June 4, 2026 /PRNewswire/ — Commvault Systems, Inc. (NASDAQ: CVLT) faces a securities class action lawsuit, which seeks to represent investors who purchased or otherwise acquired Commvault securities between April 29, 2025 and January 26, 2026.

The lawsuit follows the massive 31% collapse in the company shares on January 27, 2026, triggered by the company’s Q3 2026 financial results that included a significant shortfall in certain critical financial metrics.

Hagens Berman is investigating the pending claims alleging Commvault’s pre-January 27 disclosures violated the federal securities laws. The firm encourages Commvault investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.

Class Period: Apr. 29, 2025 – Jan. 26, 2026
Lead Plaintiff Deadline: July 17, 2026
Visit:www.hbsslaw.com/investor-fraud/cvlt
Contact the Firm Now: [email protected]
                                        844-916-0895

Commvault Systems, Inc. (CVLT) Securities Class Action:

Commvault provides its customers cyber resiliency by protecting and recovering their data and cloud-native applications amidst increasing cyber threats and attacks.

The company generates revenues through subscriptions, including Software-as-a-Service (“SaaS”), and has said that subscription annual recurring revenue (“ARR”) “is the best indicator of the company’s growth.” Accordingly, investors have focused on this key metric, of which SaaS ARR accounts for about 38%.

During the Class Period, Commvault repeatedly touted that its “execution has never been better across the business[,]” said it would “continue to see hyper-growth within [its] SaaS platform[,]” and hyped its ARR growth and accelerated SaaS target achievement “two quarters earlier than planned.”

The primary focus of the litigation is the claim that the company and its management knew but did not disclose how different types of sales would impact ARR growth, that the company increasingly focused on lower-priced SaaS deals and discounting, and created the misleading impression that its ARR would remain steady throughout fiscal 2026.

Investors learned the truth on January 27, 2026 after Commvault reported underwhelming Q3 2026 financial results. Of concern was the significant miss in net new ARR, a reduction in full-year ARR growth guidance, and a dramatic deceleration in SaaS ARR year-over-year growth (down year-over-year from 71% to just 40%).

The primary discrepancy with the company’s earlier growth narrative was its revelation that composition of sales activity (type of sale) mattered – unknown to investors, volumes increasingly came from dramatically lower-priced SaaS deals and heavily discounted long-term contracts, both of which significantly pressured ARR and SaaS ARR.

Along with the market’s swift, negative reaction, several analysts (some of whom reportedly characterized the results as a “mess” and questioned Commvault’s ability to execute) promptly downgraded their Commvault investment and price target ratings.

“We’re investigating the pending claims that Commvault intentionally misled investors about adverse impact on its growth narrative brought about by the change in type of sales revelations,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Commvault and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now.

If you’d like more information and answers to frequently asked questions about the Commvault case and the firm’s investigation, read more »

Whistleblowers: Persons with non-public information regarding Commvault should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/commvault-systems-cvlt-facing-securities-class-action-amid-q3-2026s-apparent-inconsistencies-with-prior-growth-narrative-and-1-7b-market-cap-wipeout–hbss-302791855.html

SOURCE Hagens Berman Sobol Shapiro LLP

SAN FRANCISCO, June 4, 2026 /PRNewswire/ — Sportradar Group (NASDAQ: SRAD) faces a securities class action lawsuit, which seeks to represent investors who purchased or otherwise acquired Sportradar Class A ordinary shares between November 7, 2024 and April 21, 2026.

The lawsuit comes in the wake of the massive 22% collapse in the company shares on April 22, 2026, triggered by reports published by Muddy Waters Research and Callisto Research that accused the company of misleading investors about the legality of its business model and revenue sources.

Hagens Berman is investigating the pending claims alleging Sportradar’s pre-April 22 disclosures violated the federal securities laws. The firm encourages Sportradar investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.

Class Period: Nov. 7, 2024 – Apr. 21, 2026
Lead Plaintiff Deadline: July 17, 2026
Visit:www.hbsslaw.com/investor-fraud/srad
Contact the Firm Now: [email protected]
                                       844-916-0895

Sportradar Group AG (SRAD) Securities Class Action:

The lawsuit alleges that Sportradar misrepresented and failed to disclose that the company intentionally worked with black-market gambling operators to increase its revenues, despite its assurances of strict legal and regulatory compliance and claims that ethics and integrity were crucial to the company’s operations.

Investors’ expectations about Sportradar’s business practices, including purported KYC and Code guardrails, were dashed on April 22, 2026. That day, two activist short seller firms published highly critical reports on Sportradar’s business practices, each contradicting the company’s prior statements.

Muddy Waters Research conducted an undercover investigation, analyzed Sportradar’s website code, and interviewed 15 current and former company employees to reach its conclusion that “SRAD has actively aided and abetted illegal gambling across the world’s black and grey markets – not as an accident or an oversight, but as a business strategy.” The firm “estimate[d] that illegal operators today deliver approximately 20-40% of total revenues[]” to Sportradar. Muddy Waters said it “identified nearly 50 companies as current or recent SRAD clients and collaborators who are operating in illegal markets.”

For its part, Callisto examined hundreds of gambling platforms and reported that it found evidence that “over 270 individual platforms (more than a third of the 800 Sportradar claims to serve) are using Sportradar’s products or services, or explicitly claiming to do so, while operating illegally in regulated or prohibited gambling markets.” Callisto also said “[m]any of these operators have no license whatsoever[]” and “a senior former employee we spoke to estimated the exposure to unlicensed operators could be as high as 30-40% of Sportradar’s revenue.”

The market swiftly reacted, wiping out over $800 million of Sportradar’s market capitalization in a single day.

“We’re investigating the pending claims that, unbeknownst to investors, Sportradar’s business practices were, in contrast to its claims, illegal, and whether the company may have recorded illegally obtained revenues,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation of the claims in the pending suit.

If you invested in Sportradar and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now.

If you’d like more information and answers to frequently asked questions about the Sportradar case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Sportradar should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

View original content to download multimedia:https://www.prnewswire.com/news-releases/sportradar-group-ag-srad-facing-securities-class-action-amid-activist-short-seller-accusations-of-illegal-business-model-and-800-million-market-cap-wipeout–hbss-302791858.html

SOURCE Hagens Berman Sobol Shapiro LLP

SAN FRANCISCO, June 4, 2026 /PRNewswire/ — Investors in Wix.com Ltd. (NASDAQ: WIX) saw the price of their shares tank $20.56 (-27%) on May 13, 2026, wiping out over $1.1 billion of the company’s market capitalization, after Wix announced its Q1 2026 financial results and a massive 46% year-over-year increase in operating expenses and questions over the company’s ability to defend its core business.

The news and severe market reaction have prompted national shareholder rights law firm Hagens Berman to open an investigation into whether Wix may have misled investors about the nature of its spending and, if so, whether the federal securities laws may have been violated. The firm urges Wix investors who suffered significant losses to contact the firm now to discuss their rights.

Visit:
www.hbsslaw.com/investor-fraud/wix


Contact the Firm Now:
[email protected]

                                       844-916-0895

Wix.com Ltd. (WIX) Investigation:

Global web development platform company Wix faces AI disruption concerns over whether traditional website builders can maintain competitive moats as AI-native tools proliferate and enable non-technical users to create web presence without needing platforms like Wix.

To confront this challenge, Wix positioned AI initiatives, Base44 and Harmony, as a two-pronged defense against the vibe coding trend threatening the company’s core business.

The company has assured investors that “[w]e expect innovation-driven growth to be accompanied by high impact but disciplined investments to fully unlock the market opportunity ahead for both Wix and Base44.”

In contrast, investors’ expectations were dashed on May 13, 2026. That day, Wix revealed aggressive and front-loaded AI compute expenses for Harmony and Base44.  More specifically, the rapid expansion of Base44 and Harmony rollout radically altered Wix’s cost structure primarily through front-loading sales and marketing (“S&M”) expenses. Collectively, the initiatives drove non-GAAP S&M expenses to $190.7 million, a year-over-year 88% increase that caused the company’s non-GAAP operating margin to collapse from 21% during the prior year period to just 5% while sending its quarterly operating expenses up 46% from the prior year period.

The market swiftly reacted, scalping over $1.1 billion from Wix’s market capitalization that day and prompting analysts’ surprise over the magnitude of the margin miss.

“We’re investigating whether Wix may have intentionally understated the adverse effects of its AI initiatives on its operating results,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Wix and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Wix case and the firm’s investigation, read more »

Whistleblowers: Persons with non-public information regarding Wix should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/wixcom-wix-27-drop-prompts-investor-scrutiny–hbss-investigating-unanticipated-spike-in-operating-expenses-302791850.html

SOURCE Hagens Berman Sobol Shapiro LLP

SAN FRANCISCO, June 4, 2026 /PRNewswire/ — Investors in Erasca, Inc. (NASDAQ: ERAS) saw the price of their shares tank  $9.25 (-48%) on April 28, 2026 after the company announced that it is facing a legal challenge to intellectual property claims for its lead product candidate (ERAS-0015).  The challenge is being waged by competitor Revolution Medicines (RevMed) and relates to RevMed’s RMC-6236.

The news and severe market reaction have prompted national shareholder rights law firm Hagens Berman to open an investigation into whether Erasca may have misled investors about the viability of its ERAS-0015 intellectual property. The firm urges Erasca investors who suffered significant losses to contact the firm now to discuss their rights.

Visit:
www.hbsslaw.com/investor-fraud/eras


Contact the Firm Now:
[email protected]


                                        844-916-0895

Erasca, Inc. (ERAS) Investigation:

Precision oncology company Erasca’s ERAS-0015 is the company’s investigational, oral, potentially “best-in-class” pan-RAS molecular glue under development to treat RAS-mutant solid tumors, including pancreatic ductal adenocarcinoma.

In the recent past, Erasca has favorably compared the equivalence of its ERAS-0015 40 milligram dose cohort to RevMed’s RMC-6236 400 milligram dose cohort. In addition, as recently as March 12, 2026, Erasca assured investors of its ERAS-0015 intellectual property protection, and touted that its ERAS-0015 has “in-licensed one patent family from Joyo” that “includes one issued US patent, one pending US non-provisional patent application, one issued foreign patent, and thirteen pending foreign applications.”

The company’s assurances came into question on April 27, 2026. That day, Erasca disclosed that it received a letter from RevMed’s legal counsel challenging the validity of Erasca’s intellectual property claims.

In particular, RevMed claimed that “a third party misappropriated” RevMed’s trade secrets in connection with ERAS-0015, Erasca’s claims that ERAS-0015 is “substantially equivalent” to RevMed’s RMC-6236 infringes on RevMed’s patent, and that Erasca “improperly compared preclinical data of ERAS-0015 and RMC-6236 in public disclosures.” RevMed demanded that Erasca immediately cease its “sale, selling, and importation of ERAS-0015 in the United States” for most purposes and from making any “deceptive and untrue comparative statements comparing ERAS-0015 and RMC-6236.”

The market swiftly reacted, sending the price of Erasca shares down $9.25 (-48%) the next day. The move wiped out over $2.8 billion of Erasca’s market capitalization in a single day.

“We’re investigating whether Erasca may have intentionally misled investors about a potential moat in its particular highly competitive cancer treatment space,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Erasca and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to other frequently asked questions about the Erasca investigation, read more »

Whistleblowers: Persons with non-public information regarding Erasca should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

View original content to download multimedia:https://www.prnewswire.com/news-releases/erasca-inc-eras-shares-crater-48-wiping-out-2-8-billion-of-market-cap-hbss-investigating-intellectual-property-questions-regarding-lead-asset-302791851.html

SOURCE Hagens Berman Sobol Shapiro LLP

SAN FRANCISCO, June 4, 2026 /PRNewswire/ — Investors in GeneDx Holdings Corp. (NASDAQ: WGS) saw the price of their shares tank $33.42 (-49%) on May 5, 2025 after the company announced a massive Q1 2026 earnings miss, a tenfold increase in net loss, and a drastic reduction in full-year 2026 guidance. The stock’s move lower wiped out over $900 million from GeneDx’s market capitalization in a single day.

The news and severe market reaction have prompted national shareholder rights law firm Hagens Berman to open an investigation into whether GeneDx may have violated the federal securities laws. The firm urges GeneDx investors who suffered significant losses to contact the firm now to discuss their rights. 

Visit:
www.hbsslaw.com/investor-fraud/wgs

Contact the Firm Now:
[email protected]


                                       844-916-0895

GeneDx Holdings Corp. (WGS) Investigation:

GeneDx operates a data-driven clinical diagnostics business model focused on rare and ultra-rare disease testing emphasizing its whole genome sequencing and whole exome sequencing tests as primary growth drivers.

The company derives its revenue primarily from clinical diagnostic testing, billing payers (insurance providers, health systems, and patients) for ordering genome and exome tests, and highlights its average reimbursement rate (“ARR”) from the payers. To a lesser extent, the company’s revenues come from non-core biopharma and data partnerships (including the Fabric Genetics acquisition).

In the past, GeneDx has focused investors on its genome and exome tests — “[w]e believe the number of resulted exome and genome tests in any period is important and useful to investors[.]”

GeneDx has touted its genome and exome growth and its “consistent trend of acceleration.” The company also emphasized the durability of its ARR which was $3750 in 2025, and which management conveyed in February (5 weeks into Q1) would be flat for 2026. Also important to investors, management stressed that genome and exome 2026 revenue and volume growth would be 33% to 35% with a “baseline” of 33% for Q1 2026.

But, on May 4, 2026, GeneDx’s growth narrative abruptly changed.

That day, GeneDx reported dismal Q1 2026 financial results which included a massive tenfold increase in net loss compared to the prior year period. In contrast to its February assurances, the company’s ARR fell about $200 short, a surprise blamed on a huge, adverse change in product mix toward genome whose ARR was only half that of exome. The company also said that exome and genome revenue growth would be “at least 20%,” substantially lower than it said in February. As a result of GeneDx’s changed growth narrative, the company slashed 2026 revenue guidance by 12%.

The market swiftly reacted, sending the price of GeneDx shares crashing 49%.

“We’re investigating whether GeneDx may have intentionally or recklessly misled investors about key changes in its product mix that have dramatically reduced their growth expectations, and when management first knew of the product shift,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in GeneDx and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to other frequently asked questions about the firm’s GeneDx investigation, read more »

Whistleblowers: Persons with non-public information regarding GeneDx should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected] .

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

View original content to download multimedia:https://www.prnewswire.com/news-releases/genedx-holdings-wgs-49-drop-triggers-investor-scrutiny-over-disconnect-from-prior-growth-narrative-hbss-302791854.html

SOURCE Hagens Berman Sobol Shapiro LLP

SAN FRANCISCO, June 4, 2026 /PRNewswire/ — Veritone, Inc. (NASDAQ: VERI) faces a securities class action lawsuit, which seeks to represent investors who purchased or otherwise acquired Veritone securities between October 14, 2025 and April 14, 2026.

The lawsuit comes in the wake of Veritone’s admission that certain previously filed financial statements should no longer be relied upon. The rolling news culminating in the admission has driven the price of Veritone shares significantly lower since issues began to surface on March 26, 2026.

The developments have prompted Hagens Berman to open an investigation into claims that Veritone and its management violated the federal securities laws. The firm encourages Veritone investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.

Class Period: Oct. 14, 2025 – Apr. 14, 2026
Lead Plaintiff Deadline: July 20, 2026
Visit:www.hbsslaw.com/investor-fraud/veri
Contact the Firm Now: [email protected]
                                        844-916-0895

Veritone, Inc. (VERI) Securities Class Action:

The litigation is focused on the propriety of Veritone’s repeated assurances that it prepared its financial statements in conformity with applicable accounting rules.

Specifically, the complaint alleges that Veritone did not disclose to investors that it did not accurately record and classify certain revenues and costs, and that the company overstated revenues, assets (including accounts receivable), royalties and other comprehensive income.

Investors learned the truth through a series of partial disclosures beginning on March 26, 2026. That day, Veritone provided an unexpectedly broad range of preliminary Q4 2025 revenues, explaining that “it is currently finalizing its accounting determination of certain revenue transactions[.]” This news drove the price of Veritone shares down over 29% the next day.

Then, on April 1, 2026, the company announced that it would not timely file its annual report “due to delays in finalizing the Company’s accounting determination of certain barter revenue transactions[.]” The company also raised the possibility of having to reduce previously recorded revenues and, of additional concern, that revisions or restatements of previously issued financial statements for quarters ended June 30 and September 30, 2025 could be required. This news drove the price of Veritone shares down over 9% that day.

On April 14, 2026, the company revealed that it “determined that the Company’s previously issued unaudited condensed consolidated financial statements as of and for the three and nine months ended September 30, 2025 should no longer be relied upon” due to misapplied accounting resulting in significant revenue overstatements and net loss understatements. The divergence from accounting rules included “an error in the valuation of consideration received associated with an on-premise software sold and delivered to a customer” and “misclassification of revenue and costs in transactions in which the Company acted as an agent[.]” This news drove the price of Veritone shares down over 8% the next day.

“Our investigation is focused on whether Veritone and its management intentionally misled investors about its financial performance using now-admitted improper accounting,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Veritone and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to other frequently asked questions about the Veritone case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Veritone should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

View original content to download multimedia:https://www.prnewswire.com/news-releases/veritone-inc-veri-securities-class-action-filed-after-admitting-improper-revenue-accounting–hbss-302791861.html

SOURCE Hagens Berman Sobol Shapiro LLP