Philadelphia, Pennsylvania--(Newsfile Corp. - September 18, 2024) - Current Five Below, Inc. (NASDAQ: FIVE) shareholders who have held Five Below shares since prior to December 1, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever. Click here to learn more:https://grabarlaw.com/the-latest/five-shareholder-investigation/
A recently filed securities fraud class action complaint, alleges that, Five Below, Inc., via certain of its officers and directors, 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. 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." In response to the disclosure, Five Below 's stock price declined $14.07 per share within the span of just one day.
Current Five Below shareholders who have held shares of the Company's stock since prior to December 1, 2022, have standing to seek corporate reforms, the return of funds back to company coffers, and potentially a receive a court approved incentive award if appropriate.
If you have held Five Below shares since prior to December 1, 2022, and would like to learn more at no cost to you, please visithttps://grabarlaw.com/the-latest/five-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com or Mia Heller at mheller@grabarlaw.com, or call us at 267-507-6085.
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