17:16 ET Johnson Fistel Investigates Claims on Behalf of Five Below, Inc. (FIVE) Shareholders

, /PRNewswire/ -- Johnson Fistel, PLLP is investigating potential derivative claims on behalf of Five Below, Inc. (NASDAQ: FIVE) concerning alleged breaches of fiduciary duty and other violations of state and federal law by certain officers and directors. What Should Shareholders Do?If you are a current shareholder of Five Below, Inc. and have continuously held your shares before July 16, 2024, you may have standing to seek corporate governance reforms, the return of funds back to the Company, and a court-approved incentive award, all at no cost to you. For more information, please visit our website at: https://www.johnsonfistel.com/investigations/five-below-derivative/ Background of the InvestigationAccording to a previously filed shareholder class action, on July 16, 2024, Five Below, Inc. disclosed that comparable sales had declined 5.0% year-over-year. The Company further announced reduced expectations for fiscal second-quarter 2024 sales, projecting revenue between $820 million and $826 million and an anticipated 6%–7% decrease in comparable sales. The same announcement also revealed the sudden departure of the Company's President and Chief Executive Officer. Following these disclosures, Five Below and certain of its executives were named as defendants in a federal securities class action lawsuit alleging that they failed to disclose material adverse information to investors during the class period. The court overseeing that action recently denied the Company's motion to dismiss in part, allowing significant portions of the case to proceed. Johnson Fistel's investigation focuses on whether Five Below's board of directors and senior management failed to properly oversee the Company's operations and disclosures, permitted misleading statements regarding financial performance and sales trends, and exposed the Company to substantial legal, financial, and reputational harm. About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investor Rights:Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also represent foreign investors who have purchased securities on U.S. exchanges. For more information, please visit www.johnsonfistel.com. Attorney advertising.Past results do not guarantee future outcomes.Services may be performed by attorneys in any of our offices.Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content. Contact:Johnson Fistel, PLLP 501 W. Broadway, Suite 800 San Diego, CA 92101 James Baker, Investor Relations or Frank J. Johnson, Esq. (619) 814-4471 | [email protected] or [email protected] SOURCE Johnson Fistel, PLLP