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News  ›  GlobeNewswire Inc.

Johnson Fistel Investigates Claims on Behalf of Five Below, Inc. (FIVE) Shareholders

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Johnson Fistel, Pllp
Johnson Fistel Investigates Claims on Behalf of Five Below, Inc. (FIVE) Shareholders

Johnson Fistel, PLLC is investigating Five Below, Inc. for potential derivative claims involving alleged breaches of fiduciary duty by officers and directors. The investigation stems from the company's July 2024 disclosure of a 5% comparable sales decline, reduced fiscal Q2 guidance, and the sudden departure of its President and CEO. A federal securities class action lawsuit is also pending, with the court recently denying the company's motion to dismiss in part.

Insights
MSFT   positive

Included in Purpose's income-focused ETF with a monthly distribution of $0.1750 per share


FIVE   negative

The company faces derivative and securities class action lawsuits alleging breaches of fiduciary duty, failure to disclose material adverse information, and misleading financial statements. The investigation was triggered by a significant 5% comparable sales decline, reduced guidance, and sudden executive departure, indicating serious operational and governance concerns.