Fortinet(US:FTNT) Globenewswire·2025-10-17 20:42Core Viewpoint - A class action securities lawsuit has been filed against Fortinet, Inc. for alleged securities fraud affecting investors between November 8, 2024, and August 6, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Fortinet's management made false statements regarding the refresh cycle of their products, suggesting it would be more profitable than it actually was, as it involved old products that represented a "small percentage" of the company's business [2]. - It is alleged that Fortinet misrepresented the number of FortiGate firewalls eligible for upgrades and that the refresh momentum was overstated, with approximately half of the refresh completed in just a few months by the end of Q2 2025 [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until November 21, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, and there is no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the United States [4].