#United States #Los Angeles #Securities Fraud #Glancy Prongay #Fortinet

Fortinet Shareholders Takes Action: A Chance to Lead

Fortinet, Inc. (NASDAQ: FTNT), known for its cybersecurity solutions, is currently at the center of significant legal action. Investors who have suffered losses in their investments in Fortinet now have the unique opportunity to step forward and lead a securities fraud class action lawsuit against the company. This critical announcement comes from Glancy Prongay & Murray LLP, a well-known law firm specializing in investor rights.

Context of the Lawsuit

The class action lawsuit relates to Fortinet's activities between November 8, 2024, and August 6, 2025. Allegations state that during this period, the company made misleading statements and omitted significant information that had a direct impact on its stock performance. According to the complaint, these misrepresentations involved how lucrative the refresh cycle for the company's products would be and the actual numbers behind its FortiGate firewalls.

The lawsuit claims that while Fortinet portrayed positive business prospects to investors, they were, in reality, hiding critical information from them. Notably, the company reportedly failed to accurately disclose that the refresh cycle involved outdated products that contributed a mere “small percentage” of its overall business. Additionally, it was alleged that the company did not provide a clear insight into the number of FortiGate firewalls that were up for upgrades during this refresh cycle.

Key Allegations

The complaint outlines several key points:
1. Misleading Refresh Cycle: Fortinet's representation of their product refresh cycle was claimed to be far more lucrative than reality, based on a misunderstanding of their actual product offerings.
2. Obscured Upgrade Numbers: The company supposedly lacked a precise understanding of the number of firewalls eligible for upgrades, leading to further investor misapprehensions.
3. Aggressive Push Through Refresh: Fortinet is alleged to have accelerated the refresh process significantly, completing approximately half of it within just a few months instead of spanning over two years as communicated.
4. Materially Misleading Statements: As a result of these factors, many of Fortinet’s positive statements about its business and operations were described as materially misleading or lacking foundation.

Taking Action

For shareholders who feel they’ve been adversely affected by these developments, the opportunity to join the lawsuit is open until November 21, 2025, which marks the lead plaintiff deadline. This means that interested investors are encouraged to act quickly to make their voices heard and potentially become leaders in this important legal action.

If you find yourself among those affected and wish to learn more about your rights and how to participate, reaching out to Glancy Prongay & Murray LLP is a vital next step. Investors can contact Charles Linehan, an attorney at the firm, to gather more information or seek assistance regarding the case. Inquiries can be made through various platforms, including direct links to the firm’s website and their social media channels to stay updated on cases similar to Fortinet’s.

Conclusion

The ongoing securities fraud lawsuit against Fortinet, Inc. highlights the pertinent need for transparency and accountability in corporate communications, especially for investors. It presents a critical moment for affected shareholders to stand up and advocate for their rights, potentially influencing the course of the lawsuit and the future governance of the company. This situation serves as a reminder of the volatile environment that investors navigate and reinforces the importance of being fully informed about the companies in which they invest.