Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until March 10, 2015 to file lead plaintiff applications in
a securities class action lawsuit against Five Below, Inc. (Nasdaq:
FIVE) if they purchased the Company’s securities between June 5, 2014
and December 4, 2014, inclusive (the “Class Period”). This action is
pending in the United States District Court for the Eastern District of
Pennsylvania.
What You May Do
If you purchased shares of Five Below and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost to
you, call toll-free at 1-877-515-1850 or email KSF Managing Partner
Lewis Kahn (lewis.kahn@ksfcounsel.com).
If you wish to serve as a lead plaintiff in this class action, you must
petition the Court by March 10, 2015.
About the Lawsuit
Five Below and certain of its executives are charged with failing to
disclose material information during the Class Period, violating federal
securities laws.
The complaint alleges that, while concealing that the Company’s two
founders intended to step down as CEO and Chairman, Five Below raised
its 2014 sales and earnings guidance twice. With the price of Five Below
stock increasing on their misrepresentations, the Company’s founders and
Chief Financial Officer sold almost $30 million worth of their
personally-held shares at fraud-inflated prices.
On December 4, 2014, Five Below disclosed that its sales growth had
diminished, it was reducing its annual sales and profit forecasts, and
the Company’s two founders were resigning as CEO and Chairman, with the
newly hired President taking over as CEO. On this news, the price of
Five Below stock plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana
Attorney General, Charles C. Foti, Jr., and other lawyers with
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual shareholders,
you may visit www.ksfcounsel.com.
Copyright Business Wire 2015