Deadline Alert: Fortinet, Inc. (FTNT) Shareholders Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP reminds investors of the upcoming November 21, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Fortinet, Inc. (“Fortinet” or the “Company”) (NASDAQ: FTNT) common stock between November 8, 2024 through August 6, 2025, inclusive (the “Class Period”).

IF YOU SUFFERED A LOSS ON YOUR FORTINET INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?

On August 6, 2025, Fortinet released its second quarter 2025 financial results, revealing that the Company was “approximately 40% to 50% of the way through the 2026 [firewall] upgrade cycle at the end of the second quarter based on the remaining active units and service contracts[.]” Additionally, the Company issued weaker-than-expected revenue guidance for the upcoming third quarter, projecting revenue between $1.67 billion and $1.73 billion.

On this news, Fortinet’s stock price fell $21.28, or 22%, to close at $75.30 per share on August 7, 2025, thereby injuring investors.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the refresh cycle would never be as lucrative as they represented, nor could it, because it consisted of old products that were a “small percentage” of the Company’s business; (2) Defendants did not have a clear picture of the true number of FortiGate firewalls that could be upgraded; (3) while telling investors that the refresh would gain momentum over the course of two years, Fortinet misrepresented and concealed that it had aggressively pushed through roughly half of the refresh in a period of months, by the end of 2Q 2025; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Fortinet common stock during the Class Period, you may move the Court no later than November 21, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [e-mail]
Telephone: [phone],
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.