FTNT INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Fortinet, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor 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 product refresh cycles and upgrade potential [1][3][4]. Group 1: Allegations of the Lawsuit - The lawsuit claims that Fortinet's executives misrepresented the profitability of the product refresh cycle, stating it would be lucrative despite it being based on older products that constituted a "small percentage" of the business [3]. - It is alleged that Fortinet did not have a clear understanding of the number of FortiGate firewalls eligible for upgrades, misleading investors about the upgrade momentum [3][4]. - On August 6, 2025, Fortinet disclosed during an earnings call that it was "approximately 40% to 50% of the way through the 2026 upgrade cycle," contradicting previous statements about the refresh's business impact [4]. Group 2: Impact on Stock Price - Following the revelations during the earnings call, Fortinet's stock price dropped by more than 22%, indicating a significant market reaction to the disclosed information [4]. Group 3: 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 choose a law firm to litigate the case [5]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [6].