F5 Faces Lawsuit Over Persistent Nation-State Hack, $2 Billion Value Loss
National shareholder rights firm Hagens Berman has opened an investigation into F5’s alleged long-term nation-state hack of its BIG-IP systems that exfiltrated source code. The breach prompted a 2026 revenue guidance cut and sent F5 shares plunging, erasing over $2 billion in market value.
1. Investigation Launch
Hagens Berman has initiated a securities class action investigation alleging F5 executives misled investors about the security of BIG-IP products. The firm has set a February 17, 2026 lead plaintiff deadline for shareholders who purchased F5 stock from October 28, 2024 to October 27, 2025.
2. Breach Details
On October 15, 2025, F5 disclosed that a nation-state threat actor had maintained persistent access since August 2025 to its BIG-IP product development environment and engineering knowledge management platforms, exfiltrating sensitive source code.
3. Financial Impact
Following the disclosure and a subsequent cut to 2026 revenue guidance, F5 shares slid nearly 14% over two trading days and erased more than $2 billion in market capitalization. The company also faced multiple analyst downgrades and reduced sales forecasts.
4. Next Steps for Investors
Investors who suffered losses during the class period are being advised to evaluate joining the lawsuit before the February 17 deadline by reaching out to Hagens Berman to preserve their rights.