Five Below(US:FIVE) Globenewswire·2025-12-19 16:38Core Viewpoint - Johnson Fistel, PLLP is investigating potential derivative claims on behalf of Five Below, Inc. regarding alleged breaches of fiduciary duty and violations of state and federal law by certain officers and directors [1] Shareholder Actions - Current shareholders of Five Below, Inc. who held shares continuously before July 16, 2024, may seek corporate governance reforms, return of funds to the Company, and a court-approved incentive award at no cost [2] Background of the Investigation - On July 16, 2024, Five Below, Inc. reported a 5.0% year-over-year decline in comparable sales and reduced fiscal second-quarter 2024 sales expectations, projecting revenue between $820 million and $826 million with an anticipated 6%–7% decrease in comparable sales [2] - The announcement also included the sudden departure of the Company's President and CEO [2] Legal Proceedings - Following the disclosures, Five Below and certain executives were named as defendants in a federal securities class action lawsuit for failing to disclose material adverse information to investors [3] - The court overseeing the case denied the Company's motion to dismiss in part, allowing significant portions of the case to proceed [3] Investigation Focus - Johnson Fistel's investigation is centered on whether Five Below's board of directors and senior management failed to oversee operations and disclosures properly, permitted misleading statements regarding financial performance and sales trends, and exposed the Company to legal, financial, and reputational harm [4]