F5 Investors Face Feb. 17 Deadline in Securities Case Over Nation‑State Breach Disclosure
Multiple firms seek lead‑plaintiff candidates after F5’s October breach disclosure raised questions over disclosure timing and business impact.
Overview
- Smith v. F5, Inc., No. 2:25‑cv‑02619 (W.D. Wash.), seeks to represent buyers of F5 securities from Oct. 28, 2024 through Oct. 27, 2025, with lead‑plaintiff motions due Feb. 17, 2026.
- Plaintiff firms including Hagens Berman, Glancy Prongay & Murray, Robbins LLP, Faruqi & Faruqi, and Rosen Law are recruiting investors and evaluating the materiality and timeliness of the company’s disclosures.
- F5 has said it learned on Aug. 9, 2025 of a nation‑state intrusion that maintained persistent access and exfiltrated portions of BIG‑IP source code and information on undisclosed vulnerabilities.
- Shares fell sharply after the October announcements, sliding about 10–14% following the initial breach disclosure and dropping again after FY2025 results and reduced 2026 growth guidance tied in part to the incident.
- Notices highlight that BIG‑IP is F5’s highest‑revenue product, and some firms are also soliciting potential whistleblowers regarding when the incident was deemed material under SEC guidance.