Particle.news
Download on the App Store
3 ARTICLES
·
10h ago

Fortinet Faces Investor Class Actions Over FortiGate ‘Refresh’ Claims as Firms Urge Lead-Plaintiff Bids by Nov. 21

Plaintiffs cite alleged overstatements of a FortiGate upgrade cycle tied to a sharp share-price plunge.

Rosen, a leading law firm, encourages fortinet, inc. investors to secure counsel before important deadline in securities class action ftnt

Overview

  • Rosen Law Firm on Oct. 4 reminded Fortinet investors of a Nov. 21, 2025 deadline to seek lead-plaintiff status in a filed securities class action.
  • Portnoy Law Firm on Oct. 3 announced a case for investors who bought shares from Nov. 8, 2024 through Aug. 6, 2025 and invited potential class members to contact the firm.
  • The complaints allege Fortinet promoted a record FortiGate refresh expected to generate about $400 million to $450 million across 2025–2026 with increasing momentum later in 2025.
  • Plaintiffs claim the company had already pushed through roughly half of the refresh by the end of Q2 2025 and lacked a clear view of how many units could be upgraded.
  • Notices cite Fortinet’s Aug. 6 results and a roughly 22% stock drop on Aug. 7, 2025 as the alleged corrective event, while emphasizing that no class has been certified.