A securities class action has been filed against Fortinet, Inc. (FTNT) on behalf of all persons and entities that purchased or acquired Fortinet common stock between November 8, 2024 through August 6, 2025. This case has been filed in the USDC – NDCA.
On August 6, 2025, Fortinet reported disappointing second quarter 2025 financial results. In response, Investor’s Business Daily quoted William Blair analyst Jonathan Ho as stating, “Investors were left confused by the company’s formal statement that 40% to 50% of its accelerated firewall refresh (estimated to be a $450 million, 650,000 unit opportunity) was now completed. This is driving confusion about why Fortinet is not seeing stronger product revenue growth and billings materialize.”
On this news, Fortinet’s stock price fell $21.28 per share, or 22.03%, to close at $75.30 per share on August 7, 2025.