Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fortinet, Inc. regarding a class action lawsuit due to alleged false statements and misrepresentations made by the company during a specific class period [1]. Group 1: Allegations and Misrepresentations - The complaint alleges that Fortinet misrepresented the potential profitability of its product refresh cycle, claiming it would be more lucrative than it actually was, as it involved old products that constituted a "small percentage" of the company's business [1]. - It is claimed that Fortinet did not have a clear understanding of the actual number of FortiGate firewalls eligible for upgrades, misleading investors about the refresh gaining momentum over two years [1]. - The company reportedly pushed through approximately half of the refresh in just a few months, contradicting its statements about the timeline [1]. Group 2: Class Action Participation - Shareholders who purchased shares of Fortinet during the class period from November 8, 2024, to August 6, 2025, are encouraged to register for the class action lawsuit, with a deadline for lead plaintiff applications set for November 21, 2025 [2]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [2]. - Participation in the class action does not incur any costs or obligations for the shareholders [2].

Core Viewpoint - The Gross Law Firm is notifying shareholders of Fortinet, Inc. about a class action lawsuit related to alleged false statements and misrepresentations made by the company regarding its product refresh cycle and the performance of FortiGate firewalls [1][3]. Summary by Sections Class Action Details - The class period for the lawsuit is from November 8, 2024, to August 6, 2025 [3]. - Allegations include that Fortinet misrepresented the potential profitability of its product refresh cycle, claiming it would be more lucrative than it actually was, and that the refresh consisted of old products which were only a "small percentage" of the company's business [3]. Shareholder Actions - Shareholders who purchased FTNT shares during the specified period are encouraged to register for the class action, with a deadline of November 21, 2025, to seek lead plaintiff status [4]. - Once registered, shareholders will receive updates on the case through a portfolio monitoring software [4]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies engage in responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [5].

Core Points - Class actions have been initiated on behalf of stockholders of RCI Hospitality Holdings, Inc. and Fortinet, Inc. [1] - Investors have specific deadlines to petition the court to serve as lead plaintiff in these cases [1] RCI Hospitality Holdings, Inc. (NASDAQ:RICK) - The class period for the RCI lawsuit is from December 15, 2021, to September 16, 2025 [7] - Allegations include tax fraud, bribery to cover up tax fraud, and misleading statements regarding the company's legal risks and business operations [7] Fortinet, Inc. (NASDAQ:FTNT) - The class period for the Fortinet lawsuit is from November 8, 2024, to August 6, 2025 [7] - Allegations include misrepresentation of the refresh cycle's profitability, lack of clarity on the number of FortiGate firewalls eligible for upgrades, and misleading statements about the impact of the refresh on business [7] - Following the earnings call on August 6, 2025, Fortinet's stock price fell over 22% due to the revelation of these issues [7]

Core Viewpoint - Fortinet and Crime Stoppers International have launched a pioneering Cybercrime Bounty program aimed at incentivizing the reporting of cybercriminal activities through anonymous tips, enhancing global cyber resilience and collaboration against cybercrime [1][5][6]. Group 1: Partnership and Program Overview - The Cybercrime Bounty program is a first-of-its-kind initiative that combines the resources of Fortinet, a global cybersecurity leader, and CSI, a global crime reporting platform, to combat cybercrime effectively [1][5]. - The program encourages individuals to report cybercriminal activities anonymously, thereby fostering a collaborative approach to enhance cybersecurity for organizations and governments [1][3][6]. Group 2: Objectives and Impact - The initiative aims to accelerate innovation, intelligence sharing, and coordinated responses to cybercrime, ultimately driving deterrence and disruption of cybercriminal operations [2][4]. - By leveraging CSI's anonymous reporting infrastructure and Fortinet's threat intelligence expertise, the program seeks to create a secure channel for reporting cyber threats, leading to actionable investigations and prosecutions [3][4][6]. Group 3: Community Engagement and Accountability - The Cybercrime Bounty program emphasizes the importance of community engagement and the need for strong relationships between private and public sectors to effectively disrupt organized cybercrime [7][8]. - Fortinet's commitment to accountability and collaboration is highlighted, as the company has been working for over 13 years to systematically disrupt cybercriminal operations and enhance global cyber resilience [6][8]. Group 4: Global Leadership and Collaboration - Fortinet's role as a leader in global cybersecurity collaboration is underscored, with insights gained from its participation in initiatives like the World Economic Forum's Cybercrime Atlas [8]. - The partnership with CSI builds on Fortinet's existing collaborations with various organizations, reinforcing its commitment to enhancing global cyber resilience through multi-sector cooperation [8][9].

Core Points - Class actions have been initiated for stockholders of RCI Hospitality Holdings, Inc. and Fortinet, Inc. with deadlines for lead plaintiff petitions approaching [1] RCI Hospitality Holdings, Inc. (NASDAQ:RICK) - The class period for the RCI lawsuit is from December 15, 2021, to September 16, 2025, with a lead plaintiff deadline of November 20, 2025 [5] - Allegations include that defendants engaged in tax fraud and bribery to cover up the fraud, leading to materially false statements about the company's business and operations [5] Fortinet, Inc. (NASDAQ:FTNT) - The class period for the Fortinet lawsuit is from November 8, 2024, to August 6, 2025, with a lead plaintiff deadline of November 21, 2025 [5] - Allegations state that defendants misrepresented the refresh cycle's profitability and concealed the true number of FortiGate firewalls eligible for upgrades [5] - Following the earnings call on August 6, 2025, where it was revealed that Fortinet was only "approximately 40% to 50% of the way through the 2026 upgrade cycle," the stock price fell over 22% [5]

Core Points - A class action securities lawsuit has been filed against Fortinet, Inc. for alleged securities fraud affecting investors between November 8, 2024, and August 6, 2025 [1][2] - The lawsuit claims that Fortinet misrepresented the potential profitability of its product refresh cycle and concealed the true number of FortiGate firewalls eligible for upgrades [2] - Investors have until November 21, 2025, to request to be appointed as lead plaintiff, with no out-of-pocket costs for class members to participate [3] Company Details - The lawsuit alleges that Fortinet's management made false statements regarding the refresh cycle's profitability, stating it would be lucrative when it was actually based on old products that represented a small percentage of the business [2] - Fortinet is accused of misleading investors about the momentum of the refresh cycle, claiming it would gain traction over two years while actually pushing through half of it in just a few months by the end of Q2 2025 [2] Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders and being recognized as one of the top securities litigation firms in the U.S. for seven consecutive years [4]

Accessibility StatementSkip Navigation NEW YORK, Nov. 14, 2025 /PRNewswire/ -- Levi &Â Korsinsky, LLP notifies investors in Fortinet, Inc. ("Fortinet, Inc." or the "Company") (NASDAQ: FTNT) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Fortinet, Inc. investors who were adversely affected by alleged securities fraud between November 8, 2024 and August 6, 2025. Follow the link below to get more information and be contacted by a member of our team: htt ...

Core Viewpoint - A class action securities lawsuit has been filed against Fortinet, Inc. to recover losses incurred by shareholders due to alleged securities fraud between November 8, 2024, and August 6, 2025 [2][3]. Group 1: Lawsuit Details - The lawsuit claims that Fortinet's management made false statements and concealed information regarding the refresh cycle of their products, which was not as profitable as represented [3]. - It is alleged that the company misrepresented the 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 [3]. Group 2: Next Steps for Affected Shareholders - Shareholders who suffered losses during the specified timeframe are encouraged to seek information about their rights to recovery, with no cost or obligation to participate [4]. Group 3: Legal Representation - Levi & Korsinsky LLP is highlighted as a reputable securities litigation firm with a strong track record in securing recoveries for shareholders, having been recognized in the Top 50 Report for seven consecutive years [5].

Core Insights - Fortinet's Total Economic Impact study reveals a 308% return on investment (ROI) and payback period of less than six months for organizations deploying Fortinet Secure LAN Edge [1][5] - The study indicates a 60% reduction in the risk of breaches from external attacks and a 50% increase in network operations efficiency [1][5] Financial Metrics - The composite organization achieved benefits of $13.1 million over three years against costs of $3.2 million, resulting in a net present value of $9.9 million [5] - The reduction in exposure to costly material breaches is estimated at $1.6 million due to enhanced network perimeter protection [5] Operational Efficiency - Organizations reported a 50% increase in network operations efficiency, translating to $1.3 million in operational savings [5] - The consolidation of management into a single interface eliminated redundant tasks and accelerated troubleshooting [5] Cost Savings - Customers experienced a 20% reduction in networking and security technology costs, leading to an additional profit of $2.6 million from improved availability [5] - Improved network security response time was reduced by 75%, valued at $653,000 for the composite organization [5] Security Enhancements - Fortinet Secure LAN Edge provides protection at the point of connection, effectively catching issues before they impact critical infrastructure [2][5] - The unified platform, powered by AI-driven operations, delivers measurable efficiency gains and stronger protection across all connection points [2][3]

Core Viewpoint - A class action securities lawsuit has been filed against Fortinet, Inc. for alleged securities fraud affecting investors between November 8, 2024, and August 6, 2025 [1][2] Group 1: Lawsuit Details - 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 Company's business [2] - Defendants allegedly concealed the true number of FortiGate firewalls eligible for upgrades and misled investors about the momentum of the refresh cycle, which was pushed through aggressively in a short time frame [2] Group 2: Investor Information - Investors who suffered losses during the specified period have until November 21, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3] Group 3: Law Firm Background - Levi & Korsinsky has a history of securing significant settlements for shareholders and is recognized as one of the top securities litigation firms in the United States, with over 70 employees dedicated to serving clients [4]