Class Action Filed Against Fortinet Over Alleged Stock Misstatements
A class action lawsuit has been filed against Fortinet, Inc., alleging that the company made false statements about its business and prospects. Investors who bought Fortinet common stock between November 2024 and August 2025 may be affected. The deadline to file a lead plaintiff motion is November 21, 2025.
The lawsuit claims that Fortinet misled investors about its progress in the 2026 firewall upgrade cycle. On August 6, 2025, the company revealed it was only 40% to 50% through the cycle, contrary to previous statements. Additionally, Fortinet released disappointing revenue guidance for the third quarter of 2025, projecting revenue between $1.67 billion and $1.73 billion, which fell short of expectations.
Law firm Glancy Prongay & Murray LLP has reminded investors of the deadline to file a lead plaintiff motion. Investors who wish to do so must move the Court by November 21, 2025. The attorney fee awarded to the plaintiff in such cases is known as the 'class counsel award' or 'attorney's fees in class action'.
The class action lawsuit against Fortinet is ongoing. Investors who purchased Fortinet common stock during the specified period are encouraged to take action by the November 21, 2025 deadline. The outcome of the lawsuit may impact Fortinet's shareholders and the company's future prospects.
Read also:
- Small Business Owners Sound Alarm on Tariff Challenges
- THW Marks 75 Years of Saving Lives at Home and Abroad
- Kazakhstan's National Bank Boosts Currency Sales to $1.4 Trillion in Q4
- Federal petition from CEI seeking federal intervention against state climate disclosure laws, alleging these laws negatively impact interstate commerce and surpass constitutional boundaries.
