Robbins LLP is Investigating Allegations that Fortinet, Inc. (FTNT) Misrepresented the Impact of Unit Upgrades of FortiGate Firewalls

Robbins LLP informs stockholders that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Fortinet, Inc. (NASDAQ: FTNT) common stock between November 8, 2024 and August 6, 2025. Fortinet is a cyber security company.

The Allegations:

According to the complaint, defendants failed to disclose that: (i) it was hard to predict the total number of FortiGates requiring an upgrade; (ii) customers had “excess [firewall] capacity from [purchasing firewalls in] prior years” and therefore did not need to upgrade; and (iii) the refresh could not have had “much business impact” as it consisted of only a “small percentage” of the Company’s business because the products were “12 to 15 years” old and had been sold at a time when Fortinet’s business was 5-10 times smaller, meaning that the total number of FortiGates eligible for an upgrade was inherently limited.

When the truth was revealed, the price of Fortinet common stock fell over 22%, from $96.58 per share on August 6, 2025, to $75.30 per share on August 7, 2025.

What Now: You may be eligible to participate in the class action against Fortinet, Inc. Shareholders who wish to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.