Five Below, Inc. (NasdaqGS: FIVE)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Five Below, Inc. (NasdaqGS: FIVE).

On July 16, 2024, the Company disclosed that “[c]omparable sales decreased 5.0% versus the restated and comparable period ended July 15, 2023,” and that “[a]s a result, [Five Below] now expects sales for the fiscal second quarter ending August 3, 2024 to be in the range of $820 million to $826 million and assumes an approximate 6% to 7% decrease in comparable sales,” and also announced the sudden departure of the Company’s President and CEO.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.

KSF’s investigation is focusing on whether Five Below’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws. 

If you have information that would assist KSF in its investigation, or have been a long-term holder of Five Below shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.