In a dramatic turn of events, Fortinet, Inc., a leading cybersecurity firm, finds itself embroiled in a class action lawsuit that could have significant financial implications for its shareholders. The lawsuit, filed against Fortinet, Inc. (FTNT), aims to recover losses for shareholders who suffered due to alleged securities fraud between November 8, 2024, and August 6, 2025.
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The crux of the case lies in accusations that Fortinet’s executives misled investors about the profitability of a much-anticipated product refresh cycle. The complaint alleges that the company falsely portrayed the refresh as a lucrative opportunity, despite knowing that it involved outdated products that constituted only a minor part of Fortinet’s business. Furthermore, it is claimed that Fortinet obscured the reality of how many of its FortiGate firewalls were actually eligible for upgrades. While the company assured investors that the refresh would steadily gain momentum over two years, it is alleged that Fortinet had already pushed through half of the upgrades by the end of the second quarter of 2025, misleading shareholders about the true pace and scope of the refresh.
For those who have incurred losses in Fortinet stock during the specified period, there is an opportunity to seek recovery. Shareholders, even those still holding their shares, are encouraged to visit the link provided to learn more about their rights. Importantly, there is no cost or obligation to participate in this legal action.
Celebrated for its expertise in securities litigation, Levi & Korsinsky LLP remains steadfast in its pursuit of justice for plaintiffs. With over 20 years of experience and a history of securing substantial settlements for shareholders, Levi & Korsinsky is well-equipped to handle this high-stakes case. The firm boasts a team of over 70 professionals and has consistently ranked among the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171