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Fortinet Faces Shareholder Lawsuit Over Alleged Misrepresentations of FortiGate Refresh Cycle

Fortinet Faces Shareholder Lawsuit Over Alleged Misrepresentations of FortiGate Refresh Cycle

Author:

Global Cryptocurrency

Published:

2025-11-14 07:44:02

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BTCCSquare news:

Fortinet (FTNT) is embroiled in a class action lawsuit filed on September 22, 2025, with shareholders alleging the company misled investors about the refresh cycle of its FortiGate firewalls. The plaintiffs claim Fortinet's statements artificially inflated the stock price between November 8, 2024, and August 6, 2025, leading to financial losses.

The cybersecurity firm's revenue model relies on customers upgrading hardware after the 10-year end-of-support period. The lawsuit centers on whether executives made false claims about this cycle's predictability. No cryptocurrencies or exchanges were directly implicated in the allegations.

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