Fortinet(US:FTNT) Globenewswire·2025-10-04 17:43Core Viewpoint - Rosen Law Firm is reminding purchasers of Fortinet, Inc. common stock about the upcoming lead plaintiff deadline for a class action lawsuit related to misleading statements made by the company regarding its business performance and product upgrades [1][2]. Group 1: Class Action Details - The class action lawsuit pertains to Fortinet common stock purchases made between November 8, 2024, and August 6, 2025, with a lead plaintiff deadline set for November 21, 2025 [1][2]. - Investors who purchased Fortinet stock during the specified period may be eligible for compensation without incurring out-of-pocket fees through a contingency fee arrangement [1]. Group 2: Allegations Against Fortinet - The lawsuit alleges that Fortinet made materially false and misleading statements about a "record" round of FortiGate unit upgrades, claiming it would generate between $400 million to $450 million in product revenue for 2025 and 2026 [4]. - It is claimed that the company misrepresented the sustainability and impact of the refresh cycle, which was said to consist of old products that represented a "small percentage" of the company's business [5]. - The lawsuit contends 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 rapidly in a short timeframe [5].