SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

January 20, 2015 14:56 ET

UPDATE -- SHAREHOLDER ALERT: LEVI & KORSINSKY, LLP Notifies Investors of Class Action Against Five Below, Inc. and Its Board of Directors and a Lead Plaintiff Deadline of March 10, 2015 -- FIVE

NEW YORK, NY--(Marketwired - Jan 20, 2015) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased Five Below, Inc. ("Five Below" or the "Company") (NASDAQ: FIVE) securities between June 5, 2014 and December 4, 2014.

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The complaint alleges that while the Company concealed from investors that its two founders intended to step down as CEO and Chairman, it also raised its fiscal 2014 sales and earnings guidance twice. The complaint further alleges that during this time Five Below's founders and Chief Financial Officer sold almost $30 million worth of their personally held shares at fraud-inflated prices.

On December 4, 2014, Five Below disclosed that its sales growth had slowed and that it was reducing its sales and profit forecasts; it was also disclosed that the Company's founders were resigning as CEO and Chairman. Upon this news, shares of Five Below fell more than 12 percent.

If you suffered a loss in Five Below you have until March 10, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits and have helped shareholders recover millions of dollars in losses over the years. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (866) 367-6510