Five Below, Inc. (NASDAQ: FIVE)

This lawsuit is for anyone who acquired securities in Five Below, Inc. (NASDAQ: FIVE) from December 1, 2022 through July 16, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by knowing, but failing to timely inform investors, that the Company was lowering guidance.

On July 16, 2024, after the market closed, Five Below announced that its Chief Executive Officer had stepped down “to pursue other interests.” Additionally, the Company provided quarter-to-date results and updated guidance for its second quarter of fiscal 2024, stating that it now expects sales to be between $820 to $826 million, compared to the previously expected $830 to $850 million, and net income of $0.53 to $0.56 cents, compared to the previously expected $0.57 to $0.69. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities Five Below, Inc. (NASDAQ: FIVE) from December 1, 2022 through July 16, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.