NEW YORK, Jan. 8, 2025 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Five9, Inc. ("Five9" or the "Company") (NASDAQ: FIVN). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Five9 and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until February 3, 2025, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Five9 securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On August 8, 2024, after market hours, Five9 released its second quarter 2024 financial results and held an earnings call that same day, whereby the Company cut its annual revenue guidance due to a "challenging bookings quarter" and "uncertain economic conditions." Five9 disclosed that customer budgets had been "constrained and scrutinized" and that "Q2 new logo bookings came in softer than expected[.]" The Company also reported that sales execution "wasn't up to snuff" and announced remedial action to address sales execution and efficiency issues. As a result, Five9 announced that it was "no longer assuming" a dollar-based retention rate inflection in the second half of the year.
On this news, Five9's stock price fell $11.25 per share, or 26.49%, to close at $31.22 per share on August 9, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
