F5 Faces Securities Class Action Over Alleged Concealment of Prolonged Breach

Overview

• The complaint, captioned Matthew Smith v. F5, Inc. (No. 2:25-cv-02619), was filed in the U.S. District Court for the Western District of Washington.
• The proposed class covers purchasers of F5 securities between October 28, 2024 and October 27, 2025.
• Plaintiffs allege executives touted superior security while concealing a long-term intrusion that compromised BIG-IP development and engineering knowledge systems, including source code.
• Market reactions cited in the filings include stock declines of about 13.9% after the October 15, 2025 breach disclosure and 10.9% after the October 27, 2025 earnings and guidance update.
• F5’s October 27 results and outlook referenced reduced sales, longer sales cycles, and remediation costs and identified BIG-IP as its highest-revenue product, with investors invited to seek lead-plaintiff status by February 17, 2026.