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Five9, Inc. (FIVN) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit

S For Story/10647420
LOS ANGELES, Jan. 10, 2025 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with losses related to Five9, Inc. ("Five9" or the "Company") (NASDAQ: https://www.prnewswire.com/news-releases/#finan..." rel="nofollow external noopener">FIVN) have opportunity to lead the securities fraud class action lawsuit.

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN FIVE9, INC. (FIVN), CLICK HERE BEFORE FEBRUARY 3, 2025 (THE LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

What Is The Lawsuit About?

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The complaint filed alleges that, between June 4, 2024 and August 8, 2024, Defendants failed to disclose to investors that: (1) 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; (2) 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"; (3) 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; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.
The Law Offices of Frank R. Cruz,
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at: www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE The Law Offices of Frank R. Cruz, Los Angeles
Filed Under: Business
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