Investigation of Five Below leadership persists by former Louisiana Attorney General: Kahn Swick & Foti, LLC perseveres in examining the company's officers and directors - FIVE Below
Five Below, a popular retailer known for its discounted merchandise, is facing a securities class action lawsuit, with Kahn Swick & Foti, LLC (KSF) leading the investigation.
KSF, one of the nation's premier boutique securities litigation law firms, has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg. The law firm serves a variety of clients, including public and private institutional investors, and retail investors.
The lawsuit, which was filed against Five Below and certain of its executives, comes after the retailer disclosed a 5.0% decrease in comparable sales on July 16, 2024. This disclosure led to the sudden departure of the company's President and CEO.
Charles C. Foti, Jr., Esq., a partner at KSF, is investigating Five Below, Inc. The investigation is focusing on whether the company's officers and/or directors breached their fiduciary duties or violated state or federal laws.
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. This is a significant decrease compared to the previous year, with sales anticipated to decrease by approximately 6% to 7%.
The court presiding over the case denied the Company's motion to dismiss in part, allowing the case to move forward. Shareholders who would like to discuss their legal rights can call toll-free at 1-833-938-0905, email Lewis Kahn at [email protected], or visit www.ksfcounsel.com/cases/nasdaqgs-five/ to learn more.
KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value this past year. The firm is known for seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies.
KSF has social media accounts on Facebook, Instagram, YouTube, TikTok, and LinkedIn. For more information about KSF, visit their website at www.ksfcounsel.com. The contact information for Kahn Swick & Foti, LLC is [email protected], 1-877-515-1850, and 1100 Poydras St., Suite 960, New Orleans, LA 70163.
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