Oct. 22, 2012 (Shareholders Foundation) -- An investigation on behalf of investors of Fortinet, Inc. (NASDAQ:FTNT) shares over potential securities laws violations by Fortinet, Inc.. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Fortinet, Inc. (NASDAQ:FTNT) concerning whether a series of statements by Fortinet, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Fortinet, Inc. (NASDAQ:FTNT) reported that its annual Revenue increased from $211.79 million in 2008 to $433.58 million in 2011 and its Net Income for the respective time periods rose from $7.36 million to $62.49 million.

Shares of Fortinet, Inc. (NASDAQ:FTNT) grew from $16.25 per share to as high as $28.44 per share in April 2012.

Then on Ocotber 16, 2012, after the market closed, Fortinet, Inc. (NASDAQ:FTNT) reported its third quarter financial results.

Shares of Fortinet, Inc. (NASDAQ:FTNT) fell from $24.79 on October 16, 2012, to as low as $19.25 on October 19, 2012.

On October 22, 2012, NASDAQ:FTNT shares closed at $19.45 per share.