Hagens Berman Reminds Five Below, Inc. (NASDAQ: FIVE) Investors of March 10th Lead Plaintiff Deadline


SAN FRANCISCO, Feb. 5, 2015 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds investors of the upcoming March 10, 2015 lead plaintiff deadline in the class action lawsuit filed against Five Below, Inc. (Nasdaq:FIVE) ("Five Below" or "the Company"). The suit is pending in U.S. District Court for the Northern District of California. Investors who purchased Five Below securities between June 5, 2014 and December 4, 2014 (the "Class Period") have until March 10, 2015 to move for lead plaintiff.

If you purchased Five Below securities during the Class Period, you may contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by calling (510) 725-3000, emailing FIVE@hbsslaw.com or visiting http://hb-securities.com/investigations/FIVE. No class has been certified in this case. Any member of the Class who purchased shares in the Class Period may ask the Court to appoint them as lead plaintiff.

Five Below is a low-priced retail outlet that markets to teens and pre-teens, selling goods at price points of $5.00 and below. The complaint alleges that the Company concealed from investors that its founders intended to step down from their positions as CEO and Chairman. At the same time, Five Below raised its fiscal 2014 sales and earnings guidelines twice, which had a positive impact on share price, and allowed the founders and Chief Financial Officer to sell almost $30 million of their personally held shares at inflated prices.

Investors learned the truth on December 4, 2014 when Five Below announced that the Company's founders were resigning as CEO and Chairman. Defendants admitted in a conference call that the "succession plan" was "something [defendants] together with the Board had been working on for quite a while." On the same day, the company disclosed that it was reducing its sales and profit forecasts because of slow sales growth in the third quarter. This news caused shares of Five Below to fall by $5.24 per share, or more than 12% to close at $37.61 on December 5, 2014.

"Based on the allegations in the complaint, this looks to be a clear instance of insiders cashing in on deliberate misrepresentations," said Hagens Berman partner Reed Kathrein. "The problem is that their gain comes at the price of a substantial loss for their shareholders."

If you were negatively impacted by your investment in Five Below securities between June 5, 2014 and December 4, 2014, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. No class has yet been certified in the above action.

Whistleblowers: Persons with non-public information regarding Five Below should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. For more information, call Reed Kathrein at (510) 725-3000 or email FIVE@hbsslaw.com.

About Hagens Berman

Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm headquartered in Seattle, Washington with offices in nine cities. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. Read the firm's Securities Newsletter at http://www.hb-securities.com/newsletter. The firm's blog is located at www.meaningfuldisclosure.com.

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