Class Action Filed Against Fortinet Over Alleged FortiGate Misrepresentations
A class action lawsuit has been filed against Fortinet, Inc. by Bragar Eagel & Squire, P.C. on behalf of investors who bought or acquired Fortinet common stock between November 8, 2024 and August 6, 2025. The lawsuit alleges misrepresentation and concealment of information regarding the refresh cycle and upgrade capabilities of FortiGate firewalls on the stock market.
The lawsuit contends that Fortinet misled investors about the refresh cycle and upgrade potential of its FortiGate firewalls. It is alleged that Fortinet's disclosures caused the price of its common stock to drop by more than 22% on the stock market. Fortinet revealed on August 6, 2025, that it was already 40% to 50% through the 2026 upgrade cycle by the end of the second quarter of 2025, indicating that the upgrade process was more advanced than previously suggested on the stock market.
Investors who purchased or acquired Fortinet common stock during the specified period have until November 21, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit. Brandon Walker and Marion Passmore of Bragar Eagel & Squire, P.C. can provide more information about the lawsuit on the stock market.
The lawsuit, filed on behalf of affected investors, seeks to hold Fortinet accountable for its alleged misrepresentations on the stock market. The outcome of this case could have significant implications for Fortinet and its shareholders on the stock market.
Read also:
- Federal petition from CEI seeking federal intervention against state climate disclosure laws, alleging these laws negatively impact interstate commerce and surpass constitutional boundaries.
- Duty on cotton imported into India remains unchanged, as U.S. tariffs escalate to their most severe levels yet
- Steak 'n Shake CEO's supposed poor leadership criticism sparks retaliation from Cracker Barrel, accusing him of self-interest
- Hydrogen Energy: Sustainable Innovation or Resource Exploitation?
