For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Five Below, Inc. (NASDAQ: FIVE) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants provided investors with false and/or materially misleading information about Five Below’s financial strength and operations, including its outlook for the first quarter and full year 2024. This information included Five Below’s statement that net sales are expected to be in the range of $826 million to $846 million based on opening approximately 55 to 60 new stores in the first quarter. Further, Five Below claimed that net sales for the full year are expected to be in the range of $3.97 billion to $4.07 billion based on opening between 225 and 235 new stores. Investors discovered that these statements were false and/or materially misleading when, on June 5, 2024, Five Below announced disappointing first quarter 2024 sales result and cut its full year 2024 guidance stating, “Net sales are expected to be in the range of $3.79 billion to $3.87 billion based on opening approximately 230 new stores.” At the same time, Five Below claimed that for the second quarter, “Net sales are expected to be in the range of $830 million to $850 million based on opening approximately 60 new stores.” When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Five Below, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 30, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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