1. FIVN shareholders may be eligible for class action recovery. 2. Allegations include false statements about business strength and performance. 3. Concerns over macroeconomic impacts on bookings and customer budgets were highlighted.
False statements and macroeconomic concerns suggest declining investor confidence, similar past instances led to price drops.
The class action lawsuit highlights serious concerns which could affect stock performance and investor perception.
The class action and its implications may affect FIVN price in the near future, similar to timely lawsuits affecting stocks.
/PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Five9, Inc. (NASDAQ: FIVN).
Shareholders who purchased shares of FIVN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
https://securitiesclasslaw.com/securities/five9-inc-loss-submission-form/?id=124864&from=4
June 4, 2024 to August 8, 2024
The complaint alleges that during the class period, Defendants issued materially 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.
February 3, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/five9-inc-loss-submission-form/?id=124864&from=4
Once you register as a shareholder who purchased shares of FIVN during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is February 3, 2025. There is no cost or obligation to you to participate in this case.
The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903
The Gross Law Firm