Press release
Long-Term Investors in shares of Fortinet, Inc. (NASDAQ: FTNT) should contact the Shareholders Foundation
An investigation on behalf of current long term investors in Fortinet, Inc. (NASDAQ: FTNT) shares.
Investors who are current long term investors in Fortinet, Inc. (NASDAQ: FTNT) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: FTNT stocks follows a lawsuit filed against Fortinet, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: FTNT stocks, concerns whether certain Fortinet, Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that the defendants made materially false and misleading statements concerning the business impact and sustainability of a purportedly "record" round of FortiGate unit upgrades. Defendants represented that this "refresh cycle" was "by far the largest we've seen probably ever," would generate "around $400 million to $450 million in product revenue" in 2025 and 2026, and would create strong opportunities to cross-sell additional products and services. Defendants also represented that the refresh cycle would "gain momentum" in the second half of 2025 and beyond, that the defendants knew that the refresh cycle would never be as lucrative as they represented because it consisted of old products that were a "small percentage" of the Company's business, and that the defendants misrepresented and concealed that they did not have a clear picture of the true number of FortiGate firewalls that could be upgraded.
Those who purchased shares of Fortinet, Inc. (NASDAQ: FTNT) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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