Fortinet Investors Urged to Join Class Action Over Misleading Claims

Fortinet, Inc., a prominent cybersecurity firm, is facing a class action lawsuit following allegations of misleading statements regarding its FortiGate firewall upgrades. The lawsuit addresses claims that the company failed to accurately disclose the implications of unit upgrades during the period from November 8, 2024 to August 6, 2025.

According to a statement from Robbins LLP, which is leading the legal proceedings, the lawsuit has been filed on behalf of individuals and entities who purchased Fortinet shares during this timeframe. The complaint asserts that Fortinet did not reveal crucial information about the upgrades, leading to significant financial losses for investors.

Allegations Against Fortinet

The allegations highlight that Fortinet misrepresented several key aspects of its upgrade strategy. Specifically, the lawsuit claims that the company did not disclose that it was difficult to predict the number of FortiGate units that would require upgrades. Furthermore, it indicated that many customers had surplus firewall capacity from previous years, which diminished the need for upgrades.

Additionally, the complaint notes that the refresh of the FortiGate products was unlikely to have a substantial business impact, as these products were significantly older and represented a small percentage of Fortinet’s overall business. When this information came to light, Fortinet’s stock price suffered a dramatic decline, plummeting over 22% from $96.58 per share on August 6, 2025, to $75.30 per share the following day.

Next Steps for Investors

Investors who believe they may be eligible to participate in the class action against Fortinet are encouraged to contact Robbins LLP for further details. Shareholders interested in serving as lead plaintiffs should reach out to the firm, as the lead plaintiff will represent the interests of other class members throughout the litigation process.

Importantly, investors do not need to actively participate in the case to qualify for potential recovery. Those who opt to take no action will remain as absent class members but still retain their rights to any settlement. Robbins LLP has emphasized that all legal representation is conducted on a contingency fee basis, meaning shareholders incur no upfront fees or expenses.

Robbins LLP has been a leader in shareholder rights litigation since 2002, focusing on assisting investors in recovering losses and promoting corporate accountability.

For additional information regarding the class action or to receive updates about potential settlements, interested parties can visit Robbins LLP’s website and sign up for notifications through their Stock Watch service.

This ongoing litigation highlights the importance of transparent communication from publicly traded companies, particularly in sectors where investor confidence is paramount.