May 15, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Varonis Systems Inc (NASDAQ:VRNS) shares over potential securities laws violations by Varonis Systems and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Varonis Systems Inc (NASDAQ:VRNS) concerning whether a series of statements by Varonis Systems regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Shares of Varonis Systems Inc (NASDAQ:VRNS) grew from $17.87 per share in October 2014 to as high as $38.48 per share on February 13, 2015. On February 17, 2015, Varonis Systems Inc announced its fourth quarter and full year 2014 financial results. Varonis Systems Inc reported that its annual Total Revenue rose from $74.62 million in 2013 to $101.35 million in 2014.

On May 6, 2015, after the market closed, Varonis Systems Inc announced its first quarter 2015 financial results. Among other things, Varonis Systems Inc said that its GAAP net loss was $12.7 million, compared to GAAP net loss of $8.1 million in the first quarter of 2014. Varonis Systems Inc also issued its financial outlook for the second quarter 2015 and full year 2015. Shares of Varonis Systems Inc (NASDAQ:VRNS0 declined from $27.84 per share on May 6, 2015, to as low as $17.17 per share on May 7, 2015.