INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Fortinet, Inc. of Class Action Lawsuit and Upcoming Deadlines - FTNT

Core Points - A class action lawsuit has been filed against Fortinet, Inc. for alleged securities fraud and unlawful business practices [2] - Fortinet disclosed during its earnings call that it was 40% to 50% through the 2026 upgrade cycle for its FortiGate firewalls, indicating challenges in predicting upgrade needs and suggesting customers may not require upgrades due to excess capacity [2] - Following the news, Fortinet's stock price dropped by $21.28, or 22.03%, closing at $75.30 per share [3] Summary by Sections Class Action Details - The lawsuit concerns potential securities fraud by Fortinet and its officers/directors [2] - Investors have until November 21, 2025, to request to be appointed as Lead Plaintiff if they purchased Fortinet securities during the Class Period [2] Company Performance - Fortinet's earnings call revealed that the refresh cycle for FortiGate firewalls had limited business impact, as only a small percentage of the business was affected [2] - The company admitted difficulty in predicting the total number of FortiGates needing upgrades and noted that prior purchases had led to excess firewall capacity [2] Stock Market Reaction - The announcement led to a significant decline in Fortinet's stock price, reflecting investor concerns over the company's future performance and upgrade cycle [3]