NEW ORLEANS, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 3, 2025 to file lead plaintiff applications in a securities class action lawsuit against Five9, Inc. (the “Company”) (NasdaqGM: FIVN), if they purchased the Company’s securities, including call options, between June 4, 2024 and August 8, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Five9 and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgm-fivn/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 3, 2025.
About the Lawsuit
Five9 and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 8, 2024, post-market, the Company announced its 2Q 2024 financial results, disclosing cuts to its annual revenue guidance and that it was “no longer assuming” a dollar based retention rate inflection in the second half of the year, due to “constrained and scrutinized” customer budgets and “uncertain economic conditions,” among other factors, contrary to its prior representations.
On this news, the price of Five9’s shares fell over 26%, from $42.47 per share on August 8, 2024 to $31.22 per share on August 9, 2024, on unusually high trading volume.
The case is Lucid Alternative Fund, LP v. Five9, Inc., et al., No. 24-cv-8725.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
