Fortinet(US:FTNT) Prnewswire·2025-10-27 12:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fortinet, Inc. regarding a class action lawsuit due to alleged false statements and misrepresentations made by the company during a specific class period [1]. Summary by Relevant Sections Allegations - The complaint alleges that Fortinet misrepresented the potential profitability of its product refresh cycle, claiming it would be more lucrative than it actually was, as it involved old products that constituted a "small percentage" of the company's business [1]. - It is also claimed 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, stating it would gain traction over two years while pushing through about half of it in just a few months by the end of Q2 2025 [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 [2]. - The deadline for shareholders to seek lead plaintiff status is November 21, 2025, and there is no cost or obligation to participate in the case [2]. Firm's Mission - The Gross Law Firm aims to protect the rights of investors who have suffered losses due to deceitful practices and seeks to ensure companies adhere to responsible business practices [3].