SAN FRANCISCO, June 24, 2026 (GLOBE NEWSWIRE) — On January 27, 2026, investors in Commvault Systems, Inc. (NASDAQ: CVLT) suffered a devastating 31% stock price collapse after the company delivered disappointing quarterly results.
Since this time, company executives have unloaded millions of dollars in personal stock holdings, as the company faces a federal securities class action alleging it misled investors about its growth prospects.
Hagens Berman is investigating the claims pled in the pending suit and encourages Commvault investors who suffered substantial losses to submit your losses now.
Class Period: Apr. 29, 2025 – Jan. 26, 2026
Lead Plaintiff Deadline: July 17, 2026
Visit:www.hbsslaw.com/investor-fraud/cvlt
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View our latest video summary of the allegations: youtu.be/YILiBV90q2w
Over $9.4 Million in Recent Executive Stock Sales
According to publicly filed insider trading reports, Commvault’s top executives — including its CEO, CFO, and Chief Accounting Officer — have collectively sold over $9.4 million in company shares between February and May 2026:
- Sanjay Mirchandani, President & CEO — sold approximately 72,874 shares totaling over $7,015,973 across five separate transactions between February and May 2026.
- Gary Merrill, Chief Financial Officer — sold approximately 20,474 shares totaling over $2,101,458 across four transactions during the same period.
- Danielle Nicole Abrahamsen, Chief Accounting Officer — sold approximately 2,951 shares totaling over $305,668 across four transactions during the same period.
Commvault Systems, Inc. (CVLT) Securities Class Action:
These insider sales come against the backdrop of a securities class action lawsuit filed on behalf of investors who purchased Commvault securities between April 29, 2025, and January 26, 2026.
The lawsuit alleges Commvault’s class period disclosures violated federal securities laws by creating a misleading impression about the company’s growth trajectory. Specifically, the complaint alleges that during the Class Period, Commvault repeatedly touted that its “execution has never been better across the business,” claimed it would “continue to see hyper-growth within [its] SaaS platform,” and promoted its ARR growth and accelerated SaaS target achievement “two quarters earlier than planned.”
The truth allegedly emerged on January 27, 2026, when Commvault reported Q3 2026 financial results revealing a 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 — plunging from 71% to just 40%. The company revealed for the first time that the composition of its sales activity materially impacted ARR, with volumes increasingly coming from dramatically lower-priced SaaS deals and heavily discounted long-term contracts.
Several analysts reportedly characterized the results as a “mess” and questioned Commvault’s ability to execute, promptly downgrading the stock.
HBSS Investigation
“We’re investigating whether Commvault misled investors regarding its ARR growth by masking the impact of lower-priced SaaS deals and heavy discounting, as the complaint alleges,” 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.
Contact:
Reed Kathrein, 844-916-0895
