Overview
- Glancy Prongay & Murray and The Gross Law Firm issued new notices on November 5 inviting Fortinet shareholders to contact them ahead of the November 21, 2025 lead-plaintiff deadline.
- The pending securities class action covers purchases of Fortinet stock from November 8, 2024 through August 6, 2025.
- The complaint alleges Fortinet overstated a FortiGate refresh that depended on older, small-share products and lacked a reliable count of devices eligible for upgrades.
- Plaintiffs assert the company accelerated roughly half of the refresh by the end of the second quarter of 2025 despite guidance that momentum would build over two years, and say executives touted a “record” upgrade round with $400–$450 million in product revenue across 2025–2026.
- No class has been certified, and investors may register at no cost for case updates or remain absent class members, with any potential recovery not dependent on serving as lead plaintiff.