Fortinet, Inc. (NASDAQ: FTNT)

This lawsuit is for anyone who acquired securities in Fortinet, Inc. (NASDAQ: FTNT) from November 8, 2024 through August 6, 2025.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by overselling the degree to which obsoletion of its existing products would provide the Company with opportunity to upsell existing customers new products.

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, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Fortinet, Inc. (NASDAQ: FTNT) from November 8, 2024 through August 6, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.