FIVE BELOW SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Ex...
28 February 2015 - 2:00PM
Business Wire
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until March 10, 2015 to file lead
plaintiff applications in a securities class action lawsuit against
Five Below, Inc. (Nasdaq: FIVE) if they purchased the Company’s
securities between June 5, 2014 and December 4, 2014, inclusive
(the “Class Period”). This action is pending in the United States
District Court for the Eastern District of Pennsylvania.
What You May Do
If you purchased shares of Five Below and would like to discuss
your legal rights and how this case might affect you and your right
to recover for your economic loss, you may, without obligation or
cost to you, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve
as a lead plaintiff in this class action, you must petition the
Court by March 10, 2015.
About the Lawsuit
Five Below and certain of its executives are charged with
failing to disclose material information during the Class Period,
violating federal securities laws.
The complaint alleges that, while concealing that the Company’s
two founders intended to step down as CEO and Chairman, Five Below
raised its 2014 sales and earnings guidance twice. With the price
of Five Below stock increasing on their misrepresentations, the
Company’s founders and Chief Financial Officer sold almost $30
million worth of their personally-held shares at fraud-inflated
prices.
On December 4, 2014, Five Below disclosed that its sales growth
had diminished, it was reducing its annual sales and profit
forecasts, and the Company’s two founders were resigning as CEO and
Chairman, with the newly hired President taking over as CEO. On
this news, the price of Five Below stock plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers
with significant experience litigating complex securities class
actions nationwide on behalf of both institutional and individual
shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLCLewis Kahn, Managing Partner,
877-515-1850lewis.kahn@ksfcounsel.com
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