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News  ›  GlobeNewswire Inc.

Deadline Alert: Fortinet, Inc. (FTNT) Shareholders Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Glancy Prongay & Murray Llp
Deadline Alert: Fortinet, Inc. (FTNT) Shareholders Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit

Fortinet faces a class action lawsuit alleging misleading statements about its firewall upgrade cycle and business prospects, with stock price dropping 22% after revealing weaker-than-expected financial guidance.

Insights
BL   positive

Largest top holding for the fund at $32.7 million, representing 16.7% of assets under management


FTNT   negative

The company is accused of making false statements about its business operations, misrepresenting its firewall upgrade cycle, and providing misleading financial guidance, which resulted in a significant stock price drop of 22%