FTNT INVESTOR ALERT: Fortinet, Inc. Investors with Substantial Losses Have Opportunity to Lead the Fortinet Class Action Lawsuit

Core Viewpoint - Fortinet, Inc. is facing a class action lawsuit alleging violations of the Securities Exchange Act of 1934, with claims centered around misrepresentation of the company's product refresh cycle and its impact on business performance [1][3][4]. Group 1: Lawsuit Details - The class action lawsuit is titled "Oklahoma Firefighters Pension and Retirement System v. Fortinet, Inc." and covers purchasers of Fortinet common stock from November 8, 2024, to August 6, 2025 [1]. - Allegations include that Fortinet executives misrepresented the potential profitability of the product refresh cycle, which was based on older products that constituted a "small percentage" of the company's business [3][4]. - The lawsuit claims that Fortinet concealed the true number of FortiGate firewalls eligible for upgrades and misled investors about the momentum of the refresh cycle [3][4]. Group 2: Financial Impact - On August 6, 2025, during an earnings call, 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 [4]. - The lawsuit asserts that the refresh cycle had limited business impact due to the age of the products involved, which were sold when Fortinet's business was significantly smaller [4]. - Following the earnings call, Fortinet's stock price dropped by more than 22%, indicating a significant market reaction to the revelations [4]. Group 3: Legal Process - Investors who purchased Fortinet common stock during the class period can seek appointment as lead plaintiff in the lawsuit, which allows them to represent the interests of all class members [5]. - The lead plaintiff can choose a law firm to litigate the case, and participation as lead plaintiff does not affect an investor's ability to share in any potential recovery [5]. Group 4: Firm Background - 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 [6]. - The firm has a strong track record in securing monetary relief for investors, ranking 1 in the ISS Securities Class Action Services for four out of the last five years [6].