The Gross Law Firm Notifies Fortinet, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline - FTNT

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fortinet, Inc. regarding a class action lawsuit, alleging that the company made false statements about its product refresh cycle and the number of FortiGate firewalls that could be upgraded [1]. Summary by Sections Allegations - The complaint claims that Fortinet misrepresented the profitability of its product refresh cycle, stating it would not be as lucrative as suggested, as it involved old products that constituted a "small percentage" of the company's business [1]. - It is alleged that Fortinet did not have a clear understanding of the actual number of FortiGate firewalls eligible for upgrades and misled investors about the momentum of the refresh cycle, which was pushed through rapidly in a few months rather than over the projected two years [1]. Class Action Details - The class period for the lawsuit is defined as November 8, 2024, to August 6, 2025, and shareholders are encouraged to register for participation by November 21, 2025 [2]. - Shareholders who register will receive updates on the case's progress through a portfolio monitoring software [2]. Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit and fraud, emphasizing the importance of responsible business practices and corporate citizenship [3].