LOS ANGELES, CA / ACCESSWIRE / September 28, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Five Below, Inc. ("Five Below" or "the Company") (NASDAQ:FIVE) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between March 20, 2024 and July 16, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before September 30, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Five Below claimed that it expected first quarter net sales of $826 million to $846 million based on opening 55 to 60 new stores in the first quarter. The Company also claimed that net sales for the full year would be in the range of $3.97 million to $4.07 million based on opening 225 to 235 new stores throughout the year. Despite its rosy outlook, the Company reported disappointing earnings for the first quarter and cut guidance for the year. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Five Below, investors suffered damages.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
View the original
press release on accesswire.com
