NEW YORK, Jan. 14, 2025 (GLOBE NEWSWIRE) — Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Five9, Inc. (“Five9” or the “Company”) (NASDAQ: FIVN) for violations of the federal securities laws on behalf of investors who purchased or acquired Five9 common stock between June 4, 2024, and August 8, 2024, inclusive (the “Class Period”).
On December 4, 2024, a complaint was filed against the Company and certain of its officers, alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Five9’s net new business was not “strong irrespective of the macro” and was, in fact, hampered by macroeconomic issues such as constrained and scrutinized customer budgets; (ii) Five9 was in the midst of a challenging bookings quarter due, in part, to sales execution and efficiency issues, and the Company was not “seeing very strong bookings momentum”; and (iii) Defendants did not have “enough information in terms of [their] existing customers that are going live” such that the statements that Five9 would see a positive inflection in its dollar-based retention rate lacked a reasonable basis.
When investors learned the truth, Five9’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $200,000 in Five9’s securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7256 or via email to Andrea Farah ([email protected]) or Vincent R. Cappucci Jr. ([email protected]).
Any investor who wishes to serve as Lead Plaintiff must act before February 3, 2025.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: [email protected]
SOURCE: Lowey Dannenberg P.C.
