NEW YORK, March 3, 2015 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Five Below, Inc. ("Five Below" or the "Company") (Nasdaq:FIVE) of the March 10, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Five Below and certain officers and directors of the Company.
A complaint has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons who purchased Five Below common stock between June 5, 2014 and December 4, 2014 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Five Below made false and/or misleading statements regarding: (i) the Company's sales growth and (ii) the employment status of Five Below's Chief Executive Officer ("CEO") and Chairman of the Board of Directors ("Chairman").
On December 4, 2014, the Company announced that its sales growth had declined and that the CEO and Chairman had both resigned.
Following this news, the price of the Company's stock declined by $5.24, or over 12%, to close at $37.61 on December 5, 2014.
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Take Action
If you invested in Five Below stock or options between June 5, 2014 and December 4, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/FIVE. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Five Below's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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