Fortinet(US:FTNT) Globenewswire·2025-10-16 20:00Core Viewpoint - The Gross Law Firm is notifying shareholders of Fortinet, Inc. regarding a class action lawsuit related to alleged false statements and misrepresentations made by the company during a specific period [1][3]. Group 1: Allegations and Class Period - The class period for the lawsuit is from November 8, 2024, to August 6, 2025 [3]. - Allegations include that Fortinet misrepresented the potential profitability of a product refresh cycle, claiming it would be lucrative while it actually consisted of old products that represented a "small percentage" of the company's business [3]. - The complaint states that Fortinet did not have a clear understanding of the number of FortiGate firewalls eligible for upgrades and misled investors about the momentum of the refresh cycle, which was pushed through aggressively in a short time frame [3]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by November 21, 2025, to participate in potential recovery [4]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [4]. - There is no cost or obligation for shareholders to participate in the case [4]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect the rights of investors who have suffered due to deceit, fraud, and illegal business practices [5]. - The firm is committed to ensuring companies engage in responsible business practices and seeks recovery for investors affected by misleading statements that inflated stock prices [5].