NEW YORK, July 20, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Five Below, Inc. (“Five Below” or the “Company”) (NASDAQ: FIVE). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Five Below and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On July 16, 2024, Five Below announced the resignation of Joel Anderson from his positions as President and Chief Executive Officer, as well as from his seat on the Company’s Board of Directors. Concurrently, Five Below projected a decrease of 6% to 7% in comparable sales for the fiscal second quarter ending August 3, 2024.
On this news, Five Below’s stock price fell $25.57 per share, or 25.05%, to close at $76.50 per share on July 17, 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 billions of dollars in 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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