Fortinet Accused of Securities Fraud Over Firewall Forecasts
Pension Funds Say Fortinet Leaders Misled Market With Overly Rosy Refresh Outlook
Public pension funds filed securities fraud lawsuits claiming Fortinet misled investors by overstating the value and timing of a major firewall refresh cycle. The lawsuits allege the refresh involved outdated products and had limited business impact, contradicting Fortinet's upbeat public messaging.
Public pension funds filed securities fraud lawsuits claiming Fortinet misled investors by overstating the value and timing of a major firewall refresh cycle. The lawsuits allege the refresh involved outdated products and had limited business impact, contradicting Fortinet's upbeat public messaging.