NEW YORK, July 20, 2024 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Five Below, Inc. (NASDAQ: FIVE) for potential violations of the federal securities laws.
If you invested in Five Below, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/five-below-inc.
Why Did Five Below’s Stock Drop?
Five Below operates specialty discount stores, and prices most of its products at $5 or less. The company consistently discussed how it continued to execute against its five key strategic pillars that helped drive long-term growth.
After the market closed on July 16, 2024, Five Below announced that CEO Joel Anderson resigned as President and CEO, and as a member of the Board of Directors, effective immediately. At the same time, the company reported that the quarter-to-date results for its second quarter of fiscal 2024 showed that comparable sales decreased 5% over the prior year. As a result, Five Below also announced that sales for the full quarter would be in the range of $820 million—$860 million and that comparable sales would decline approximately 6%—7%.
This news caused the price of Five Below stock to drop precipitously, trading down roughly 15% prior to market open on July 17, 2024.
Click here for more information: https://www.bfalaw.com/cases-investigations/five-below-inc.
What Can You Do?
If you invested in Five Below, Inc. (NASDAQ: FIVE) you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/five-below-inc
Or contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/five-below-inc
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