Hagens Berman Announces Investigation into F5, Inc. (FFIV), Which Faces Securities Class Action Amid Cybersecurity Incident, Questions About Disclosure Timing and Impact on Company’s Business

SAN FRANCISCO–(BUSINESS WIRE)–A securities class action lawsuit styled Smith v. F5, Inc., et al., No. 2:25-cv-02619 (W.D. Wash.) has been filed, seeking to represent investors in F5 (NASDAQ: FFIV) who purchased or otherwise acquired F5 securities between October 28, 2024 and October 27, 2025.

The lawsuit comes in the wake of F5’s October 15, 2025 report that, on August 9, 2025, it learned of a major cybersecurity incident involving a nation-state actor that gained unauthorized access to certain Company systems, including its highest revenue product (F5 BIG-IP). This and related subsequent disclosures drove the price of F5 shares sharply lower.

National shareholders rights firm Hagens Berman continues to investigate whether F5 timely reported the breach to investors and its impact on the company’s business. The firm urges F5 investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.

Class Period: Oct. 28, 2024 – Oct. 27, 2025

Lead Plaintiff Deadline: Feb. 17, 2026

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Contact the Firm Now: FFIV@hbsslaw.com, 844-916-0895

F5, Inc. (FFIV) Securities Class Action:

The lawsuit is focused on the timing and propriety of F5’s disclosures about the sufficiency of its cybersecurity response plan, the adverse effect of any cybersecurity incidents on its business and growth prospects including its F5 BIG-IP products which provide application delivery and security solutions.

Specifically, the complaint alleges that during the Class Period F5 assured investors that it “delivers the most effective and comprehensive app and API security platform in the industry[]” and claimed that it could uniquely address newly developing security concerns while providing best-in-class security offerings.

Investors’ expectations were dashed beginning on October 15, 2025. That day, F5 revealed that “[o]n August 9, 2025, F5, Inc. […] learned that a highly sophisticated nation-state threat actor had gained unauthorized access to certain Company systems.” F5 also disclosed “the threat actor maintained long-term, persistent access to certain F5 systems, including the BIG-IP product development environment and engineering knowledge management platform.”

Still, the company assured investors “this incident has not had a material impact on the Company’s operations[.]”

This news sent the price of F5 shares down $47.82 (-13.9%) during the two trading days ended October 16, 2025.

The incident’s full impact became clearer on October 27, 2025. That day, the company reported its Q4 and FY 2025 financial results and guided for 2026 revenue growth of only 0% to 4% as compared to 2025 revenue growth of 10%. Management blamed the steep growth deceleration “on what we see as potential near-term impact related to the security incident[]” and said “it would be natural that in some of our customers, at an executive level, we may see some delays of approvals or delays of deals or additional approval, as customers across a complex organization make sure that they want to be reassured that their projects should move forward[.]”

This news sent the price of F5 shares down $22.83 (-7.8%) the next day.

“We’re focused on when F5 determined that the August 2025 cybersecurity incident was material and whether the company timely informed investors consistent with the SEC’s 4 business day rule and which might have predated the October 15 disclosure,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in F5 and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the F5 case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding F5 should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email FFIV@hbsslaw.com.

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contacts

Reed Kathrein, 844-916-0895