Class Action Alert for Fortinet Investors
Bragar Eagel & Squire, P.C. is calling on Fortinet (NASDAQ: FTNT) investors who have faced losses to take immediate action due to an upcoming class action lawsuit. The firm encourages those who purchased or acquired shares between November 8, 2024, to August 6, 2025, to reach out for more information on their legal rights.
Key Details of the Lawsuit
Understanding the Allegations
The lawsuit, filed in the United States District Court for the Northern District of California, centers around serious allegations against Fortinet's management. Investors allege that the company misled them about the profitability of its product refresh cycle, which was based on outdated products that represented a small fraction of its business. Furthermore, the complaint states that management obscured the actual number of FortiGate firewalls that were eligible for upgrades, which significantly affected investor decisions.
Impact on Fortinet’s Stock
On August 6, 2025, during an earnings call, Fortinet disclosed that it was already between 40% and 50% into the next upgrade cycle. This revelation indicated they were struggling to accurately predict the number of FortiGate firewalls needing upgrades. Additionally, executives suggested that many customers retained excess firewall capacity from previous years' purchases, leading to insufficient upgrade demand. This information was pivotal and resulted in a noted decline in Fortinet's stock price of over 22%, prompting investors to act.
Steps for Investors to Follow
Fortinet shareholders who believe they were affected by these developments should consider their options carefully. They have until November 21, 2025, to petition the court to be appointed as the lead plaintiff in the lawsuit. This designation could provide significant leverage in the case against Fortinet.
Contact Information for Assistance
Bragar Eagel & Squire has made it easy for affected investors to seek guidance. Those who wish to discuss their situation can contact either Brandon Walker or Marion Passmore directly at (212) 355-4648. Investors are encouraged to reach out as there is no cost or obligation involved.
About Bragar Eagel & Squire, P.C.
Bragar Eagel & Squire, P.C. is a distinguished law firm renowned for representing both individual and institutional investors in complex securities litigation. The firm operates out of New York, California, and South Carolina, offering seasoned expertise in navigating the legal landscape of investor rights. For more information about their services, individuals can visit their website.
Frequently Asked Questions
What is the deadline for Fortinet investors to join the class action?
Investors must act by November 21, 2025, to be considered for leading the lawsuit against Fortinet.
How can I contact Bragar Eagel & Squire for assistance?
Affected investors may reach out to Brandon Walker or Marion Passmore at (212) 355-4648 for a direct consultation regarding their rights.
What are the allegations against Fortinet in the lawsuit?
The lawsuit claims that Fortinet misled investors about their upgrade cycle's potential profitability and concealed information regarding the number of products eligible for upgrades.
Where can I find more details about the class action lawsuit?
Additional details about the class action lawsuit can be obtained by contacting Bragar Eagel & Squire directly or through their website.
Is there a cost involved for investors seeking legal advice?
No, contacting Bragar Eagel & Squire for a consultation comes at no cost to investors.
