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Fortinet Class Action Lawsuit: Investors Warned of Potential Compensation

Strategic Insights

— 1 min read

Purchasers of common stock in Fortinet, Inc. between November 8, 2024 and August 6, 2025, both dates inclusive, may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. A class action lawsuit has been filed, and investors are reminded of the lead plaintiff deadline on November 21, 2025.

Key Takeaways:

  • The lawsuit alleges that Fortinet, Inc.'s 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" 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.
  • The lawsuit alleges that these statements were materially false and misleading, and that defendants misrepresented and concealed the true number of FortiGate firewalls that could be upgraded.
  • Fortinet misrepresented and concealed that it had aggressively pushed through roughly half of the refresh in a period of just a few months, by the end of 2Q 2025.
  • Interested investors are advised to select qualified counsel with a track record of success in leadership roles, as not all firms issuing notices have comparable experience, resources, or peer recognition.
  • The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
  • The firm has a history of achieving significant settlements, including the largest ever securities class action settlement against a Chinese Company at the time.
  • In 2019, the firm secured over $438 million for investors, and in 2020, founding partner Laurence Rosen was named by Law360 as a Titan of Plaintiffs' Bar.

Statistics:

  • Fortinet Security Class Action Settlement: over $438 million secured in 2019 alone.
  • Largest Ever Securities Class Action Settlement: achieved by The Rosen Law Firm against a Chinese Company at the time.
  • Number of Securities Class Action Settlements: The Rosen Law Firm ranked No. 1 by ISS Securities Class Action Services in 2017.
  • Years of Ranking in Top 4: The Rosen Law Firm has been ranked in the top 4 each year since 2013.

Sources:

  • GlobeNewswire. 2025. WHY: Rosen Law Firm Reminds Purchasers of Fortinet.
  • The Rosen Law Firm. Attorney Advertising.
  • ISS Securities Class Action Services. 2017. No. 1 ranked in the top 4 each year since 2013.
  • Law360. 2020. Laurence Rosen Named Titan of Plaintiffs' Bar.

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