Faruqi & Faruqi, LLP investigates claims on behalf of Five9 Investors from Investing.com

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 in Five9 (NASDAQ:) to Contact Him Directly to Discuss Their Options

If you immediately lost more than $ 75,000 in Five 9 between June 4, 2024 and August 8, 2024 and want to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly to 877-247-4292 o 212-983-9330 (Ext. 1310).

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New York, New York–(Newsfile Corp. – January 4, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Five9, Inc. (“Five9” or “Company”) (NASDAQ: FIVN) and reminds investors of the February 3, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Five9’s net new business did not it was “strong regardless of the macro” and was, in fact, hampered by macroeconomic issues such as limited and scrutinized customer balance sheets; (2) Five9 was in the midst of a challenging booking quarter due, in part, to sales execution and efficiency issues, and the Company was not “seeing very strong booking momentum”; and (3) the defendants do not have “enough information in terms of (their) existing customers who have gone live” so that the claims that Five9 will see a positive inflection in its dollar-based retention rate do not it lacked a reasonable basis.

On August 8, 2024, after market hours, Five9 released its financial results for the second quarter of 2024 and held an earnings call on the same day, where the Company cut its annual revenue guidance for a “challenging booking quarter” and “uncertain economic conditions.” Five9 disclosed that customer budgets were “restricted and scrutinized” and that “Q2 new log bookings came in softer than expected (.)” The Company also reported that sales execution “did not it was not up to par” and announced remedial action to address the sale. execution and efficiency issues. As a result, Five9 announced that it “no longer assumes” a dollar-based retention rate inflection in the second half of the year.

On this news, Five9’s stock price fell $11.25 per share, or 26.49%, to close at $31.22 per share on August 9, 2024.

The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class that is appropriate and typical of the class members who conducts and oversees the litigation on behalf of the putative class. Any putative class member can move the Court to serve as lead plaintiff through an attorney of their choosing, or they can choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead actor or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Five9’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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To view the source version of this press release, visit https://www.newsfilecorp.com/release/236023