FIVE BELOW ALERT: Shareholder Rights Law Firm Johnson & Weaver, LLP Has Filed a Class Action Lawsuit against Five Below, Inc. and Certain Officers; Encourages Investors To Contact Firm
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Published: Jan 16, 2015 11:01 p.m. ET
SAN DIEGO, Jan 16, 2015 (BUSINESS WIRE) -- Shareholder rights law firm Johnson & Weaver, LLP announced that a class action has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of purchasers of Five Below, Inc. FIVE, +1.98% common stock during the period between June 5, 2014 and December 4, 2014 (the “Class Period”). If you purchased Five Below during this time frame we encourage you to contact our firm.
The complaint alleges that during the Class Period, Five Below concealed from investors that its two founders intended to step down as CEO and Chairman. The Company also failed to communicate that Five Below had raised its fiscal 2014 sales and earnings guidance twice. On December 4, 2014, Five Below disclosed that its sales growth had diminished and that it was reducing its annual sales and profit forecasts. On the same day, the Company’s two founders announced their resignations. On this news, the price of Five Below stock fell, closing down 21% from its Class Period high. During the Class Period the Company’s founders and its CFO sold almost $30 million worth of their personally held shares.
Plaintiff seeks to recover damages on behalf of all purchasers of Five Below’s publicly traded securities during the Class Period. If you wish to be appointed as a lead plaintiff, you must apply to the Court no later than March 10, 2015. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please contact lead analyst Jim Baker () at 619-814-4471. If you email, please include your phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit cts.businesswire.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE: Johnson & Weaver, LLP
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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