Fortinet(US:FTNT) Globenewswire·2025-10-07 18:50Core Viewpoint - A class action lawsuit has been filed against Fortinet, Inc. for alleged misrepresentations regarding the company's product refresh cycle and its impact on business performance [7]. Allegation Details - The lawsuit claims that Fortinet's management misled investors about the profitability of the refresh cycle, stating it would not be as lucrative as represented due to the old products being a "small percentage" of the business [7]. - It is alleged that Fortinet concealed the uncertainty regarding the number of FortiGate firewalls eligible for upgrades and misrepresented the momentum of the refresh cycle [7]. - 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% [7]. Next Steps - Investors who purchased Fortinet shares during the class period (November 8, 2024, to August 6, 2025) and suffered losses are encouraged to contact the law firm for more information and to discuss their legal rights [4][8].