Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Urges Investors Suffering Losses Over $75,000 On Lima9 (NASDAQ: ) To Contact Him Directly To Discuss Their Options

If you suffer losses in excess of $75,000 in Five 9 between June 4, 2024 and August 8, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Direct Josh Wilson on 877-247-4292 or 212-983-9330 (Ext. 1310).

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New York, New York–(Newsfile Corp. – January 12, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating a potential claim against Five9, Inc. (“Five9” or the “Company”) (NASDAQ: FIVN) and reminds investors of February 3, 2025 deadline to seek the role of lead plaintiff in a federal securities class action filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm 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) The Five9’s new business is not “solid regardless of the macro” and is, in fact, hindered by macroeconomic issues such as constrained and scrutinized customer budgets; (2) Five9 is in the midst of a challenging bookings quarter due, in part, to sales execution and efficiency issues, and the Company is not “seeing very strong bookings momentum”; and (3) the defendants do not have “sufficient information in terms of (their) existing customers being alive” such that the claims that Five9 will see a positive change in its dollar-based retention rate are insufficient. on reasonable grounds.

On August 8, 2024, after market hours, Five9 released its second quarter 2024 financial results and held an earnings call on the same day, where the Company cut its annual revenue guidance due to in a “challenging booking quarter” and “uncertain economic conditions.” Five9 disclosed that customer budgets were “restricted and reviewed” and that “Q2 new logo bookings came in much slower than expected (.)” The Company also reported that the implementation of sales “not up to snuff” and announced remedial action to address sales execution and efficiency issues. As a result, Five9 announced that it “no longer contemplates” a change in the dollar-based maintenance rate 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 largest financial interest in the relief sought by the class who is substantially and generally among the class members managing and managing the litigation on behalf of the purported class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a non-class member. Your ability to share in any recovery is not affected by the decision to serve as lead plaintiff or not.

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

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To view the original version of this press release, please visit https://www.newsfilecorp.com/release/236783