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]
FTNT INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces That Fortinet, Inc. Investors With Substantial Losses Have Opportunity to Lead Class Action Lawsuit