Core Viewpoint - Fortinet, Inc. is facing a securities fraud class action lawsuit due to misleading statements regarding its business performance and the sustainability of its product upgrade cycle, which led to significant stock price decline after disappointing financial results [3][4]. Financial Performance - On August 6, 2025, Fortinet reported its Q2 2025 financial results, indicating that it was "approximately 40% to 50% of the way through the 2026 firewall upgrade cycle" [3]. - The company provided weaker than expected revenue guidance for Q3 2025, projecting revenue between $1.67 billion and $1.73 billion [3]. - Following the announcement, Fortinet's share price dropped by $21.28, or approximately 22%, from $96.58 to $75.30 [3]. Lawsuit Details - The lawsuit is on behalf of investors who purchased Fortinet securities from November 8, 2024, to August 6, 2025 [4]. - Allegations include that Fortinet made materially false and misleading statements about the impact and sustainability of a "record" upgrade cycle, claiming it would generate $400 million to $450 million in product revenue for 2025 and 2026 [4]. - The lawsuit asserts that Fortinet misrepresented the true nature of the upgrade cycle, which consisted of older products and did not have a clear understanding of the number of firewalls eligible for upgrades [4].

Core Viewpoint - A class action lawsuit has been filed against Fortinet, Inc. for allegedly making materially false and misleading statements regarding the business impact of a significant upgrade cycle for its FortiGate units, which has led to investor damages during the specified class period from November 8, 2024, to August 6, 2025 [1][5][6]. Group 1: Lawsuit Details - The lawsuit claims that Fortinet's management misrepresented the scale and profitability of a "record" refresh cycle, projecting product revenue between $400 million to $450 million for 2025 and 2026, while knowing that the actual refresh cycle would not be as lucrative [5][6]. - It is alleged that the refresh cycle consisted of older products that represented only a "small percentage" of Fortinet's business, contradicting the company's optimistic projections [6]. - The lawsuit indicates that Fortinet concealed the true number of FortiGate firewalls eligible for upgrades and misled investors about the momentum of the refresh cycle, which was pushed through more rapidly than communicated [6]. Group 2: Investor Actions - Investors who purchased Fortinet common stock during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm directly for more information [3][7]. - A lead plaintiff must file a motion with the court by November 21, 2025, to represent the interests of other class members [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has consistently ranked highly in terms of the number of securities class action settlements and has recovered hundreds of millions of dollars for investors [4].

Core Viewpoint - The law firm Robbins Geller Rudman & Dowd LLP has announced a class action lawsuit against Fortinet, Inc. for alleged violations of the Securities Exchange Act of 1934, involving claims of misrepresentation regarding the company's product refresh cycle and its impact on business performance [1][3][4]. Group 1: Allegations of the Lawsuit - The lawsuit alleges that Fortinet's executives misrepresented the potential profitability of the product refresh cycle, claiming it would be lucrative despite it consisting of older products that represented a "small percentage" of the business [3]. - It is claimed that Fortinet did not have a clear understanding of the number of FortiGate firewalls eligible for upgrades, misleading investors about the refresh cycle's momentum [3][4]. - On August 6, 2025, Fortinet disclosed that it was "approximately 40% to 50% of the way through the 2026 upgrade cycle" by the end of Q2 2025, contradicting earlier statements and leading to a stock price drop of over 22% [4]. Group 2: Class Action Process - Investors who purchased Fortinet common stock during the specified class period (November 8, 2024, to August 6, 2025) have until November 21, 2025, to seek appointment as lead plaintiff in the lawsuit [1][5]. - The lead plaintiff will represent the interests of all class members and can select a law firm of their choice for litigation [5]. Group 3: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is recognized as a leading law firm in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [6]. - The firm has a strong track record, being ranked 1 in securing monetary relief for investors in securities class action cases for four out of the last five years [6].

Core Viewpoint - A securities class action lawsuit has been filed against Fortinet, Inc. for alleged misleading statements and omissions regarding the company's business operations and prospects during the Class Period from November 8, 2024, to August 6, 2025 [1]. Group 1: Allegations Against Fortinet - The lawsuit claims that Fortinet misrepresented the profitability of its product refresh cycle, stating it would be more lucrative than it actually was, as it involved old products that constituted a "small percentage" of the business [3]. - It is alleged that Fortinet did not have a clear understanding of the actual number of FortiGate firewalls eligible for upgrades, which was not disclosed to investors [3]. - The complaint asserts that Fortinet misled investors by claiming that the refresh would gain momentum over two years, while in reality, the company had pushed through about half of the refresh in just a few months by the end of Q2 2025 [3]. - As a result of these actions, the statements made by Fortinet regarding its business and future prospects were materially false and misleading [3]. Group 2: Legal Process and Participation - Investors in Fortinet have until November 21, 2025, to seek appointment as lead plaintiff in the class action, which involves representing the interests of all class members [4]. - The lead plaintiff is typically the investor or group of investors with the largest financial interest in the case and is responsible for directing the litigation [4]. - Investors can choose to participate actively or remain as absent class members without affecting their ability to share in any potential recovery [4].

Core Viewpoint - The article discusses a class action lawsuit against Fortinet, Inc. for alleged violations of the Securities Exchange Act of 1934, with claims that the company and its executives misrepresented business prospects, leading to substantial investor losses. Summary by Sections Class Action Lawsuit Details - Investors who purchased Fortinet common stock between November 8, 2024, and August 6, 2025, have until November 21, 2025, to seek lead plaintiff status in the lawsuit [1] - The lawsuit is titled Oklahoma Firefighters Pension and Retirement System v. Fortinet, Inc. and alleges that Fortinet and certain executives issued false statements regarding the company's business and prospects [2][9] Allegations Against Fortinet - The lawsuit claims that Fortinet misrepresented the potential profitability of a product refresh cycle, stating it would not be as lucrative as suggested due to the age of the products involved [3] - It is alleged that Fortinet concealed the true number of FortiGate firewalls eligible for upgrades and misled investors about the momentum of the refresh cycle [3][4] - On August 6, 2025, during an earnings call, Fortinet revealed it was only 40% to 50% through the 2026 upgrade cycle, contradicting previous statements and leading to a stock price drop of over 22% [4] Legal Process and Representation - The Private Securities Litigation Reform Act of 1995 allows any investor who acquired Fortinet stock during the class period to seek lead plaintiff status, which involves directing the lawsuit on behalf of all class members [5][6] - The lead plaintiff can choose a law firm to represent the class, and participation as lead plaintiff does not affect the ability to share in any potential recovery [6] About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [7]

Core Viewpoint - A class action lawsuit has been filed against Fortinet, Inc. for allegedly misrepresenting the impact of unit upgrades of FortiGate firewalls, leading to significant stock price decline when the truth was revealed [1][2][3]. Allegations - The complaint alleges that Fortinet failed to disclose the difficulty in predicting the total number of FortiGates requiring an upgrade [2] - It is claimed that customers had excess firewall capacity from previous purchases, reducing the necessity for upgrades [2] - The refresh of the firewalls was said to have minimal business impact as it represented only a small percentage of the company's business, given that the products were 12 to 15 years old and sold when Fortinet's business was significantly smaller [2] Stock Price Impact - Following the revelation of the alleged misrepresentations, Fortinet's stock price dropped over 22%, from $96.58 per share on August 6, 2025, to $75.30 per share on August 7, 2025 [3].

Core Viewpoint - Fortinet, Inc. is facing a class action lawsuit due to alleged securities fraud, with a deadline for lead plaintiff motions set for November 21, 2025, following a significant drop in stock price after disappointing financial results [1][5]. Financial Performance - On August 6, 2025, Fortinet reported its Q2 2025 financial results, indicating that it was "approximately 40% to 50% of the way through the 2026 firewall upgrade cycle" and provided weaker-than-expected revenue guidance for Q3, projecting revenue between $1.67 billion and $1.73 billion [2][4]. Stock Price Reaction - Following the announcement of the financial results, Fortinet's stock price fell by $21.28, or 22%, closing at $75.30 per share on August 7, 2025, which negatively impacted investors [3]. Allegations in the Lawsuit - The class action lawsuit alleges that Fortinet made materially false and misleading statements regarding its business operations and prospects, including: 1. Misrepresentation of the profitability of the refresh cycle, which was based on old products that constituted a small percentage of the business [4]. 2. Lack of clarity on the actual number of FortiGate firewalls eligible for upgrades [4]. 3. Concealment of the rapid progress of the refresh cycle, which was pushed through in a few months rather than over two years as claimed [4]. 4. Overall misleading statements about the company's business health and future prospects [4].

LOS ANGELES, Sept. 26, 2025 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion. Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com. RCI ...

Core Viewpoint - A securities class action lawsuit has been filed against Fortinet, Inc. for allegedly making false and misleading statements regarding its business operations and product refresh cycle during the specified Class Period from November 8, 2024, to August 6, 2025 [1]. Allegations of Misconduct - The lawsuit claims that Fortinet misrepresented the profitability of its product refresh cycle, stating it would be lucrative despite it consisting of old products that were only a small percentage of the business [2]. - It is alleged that Fortinet concealed the true number of FortiGate firewalls eligible for upgrades, leading to misleading statements about the company's operational capabilities [2]. - The complaint asserts that Fortinet misled investors by claiming the refresh would gain momentum over two years, while in reality, it aggressively pushed through half of the refresh in just a few months by the end of Q2 2025 [2]. - As a result of these actions, the statements made by Fortinet regarding its business and prospects were materially false and lacked a reasonable basis [2]. Lead Plaintiff Process - Fortinet investors have until November 21, 2025, to seek appointment as a lead plaintiff representative in the class action, which involves directing the litigation on behalf of all class members [3]. - The lead plaintiff is typically the investor or group of investors with the largest financial interest and who are representative of the class [3]. - Participation as a lead plaintiff does not affect the ability to share in any recovery from the lawsuit [3]. Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering billions for victims of corporate misconduct [4]. - The firm emphasizes its commitment to protecting investors and consumers from fraud and negligence [4].

Group 1: Company Analysis - Fortinet Inc reported strong quarterly earnings, with revenue increasing by 20% year-over-year, reaching $1.1 billion [1] - Shopify Inc has shown significant growth in its merchant base, with a 15% increase in active users, now totaling 2.5 million [1] - Both companies are positioned well in their respective markets, with Fortinet focusing on cybersecurity solutions and Shopify enhancing its e-commerce platform [1] Group 2: Market Trends - The cybersecurity market is expected to grow at a compound annual growth rate (CAGR) of 10% over the next five years, driven by increasing cyber threats [1] - E-commerce continues to expand, with online sales projected to reach $6 trillion globally by 2024, indicating a robust environment for Shopify [1] - Investment in technology and digital transformation is a key trend influencing both sectors, as companies seek to enhance security and online presence [1]