Fortinet(US:FTNT) Globenewswire·2025-10-22 20:08Core Points - The Gross Law Firm has issued a notice to shareholders of Fortinet, Inc. regarding a class action lawsuit related to alleged false statements made by the company during a specific period [1][3] - The class period for the lawsuit is from November 8, 2024, to August 6, 2025, during which Fortinet is accused of misrepresenting the potential profitability of its product refresh cycle [3][4] - Shareholders are encouraged to register for the class action by November 21, 2025, to potentially become lead plaintiffs and receive updates on the case [4] Allegations - The complaint alleges that Fortinet's management misled investors about the refresh cycle's profitability, claiming it would be more lucrative than it actually was, as it involved old products that represented a "small percentage" of the company's business [3] - It is also claimed that Fortinet did not have a clear understanding of the number of FortiGate firewalls eligible for upgrades and misrepresented the momentum of the refresh cycle, stating it would gain traction over two years while it was pushed through rapidly in just a few months [3] Next Steps for Shareholders - Shareholders who purchased FTNT shares during the class period should register to be enrolled in a portfolio monitoring system that will provide updates on the case [4] - There is no cost or obligation for shareholders to participate in the class action [4] About the Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [5]