A lawsuit was filed on behalf of investors in Five Below Inc (NASDAQ:FIVE) shares over alleged securities laws violations. Deadline: March 10, 2015. NASDAQ:FIVE investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 01/12/2015 --An investor, who purchased shares of Five Below Inc (NASDAQ:FIVE), filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by Five Below Inc (NASDAQ:FIVE in connection with certain allegedly false and misleading statements made between June 5, 2014 and December 4, 2014.

Investors who purchased shares of Five Below Inc (NASDAQ:FIVE) have certain options and for certain investors are short and strict deadlines running. Deadline: March 10, 2015. NASDAQ:FIVE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Five Below Inc (NASDAQ:FIVE) common shares between June 5, 2014 and December 4, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that while actively concealing from investors that Five Below Inc's two founders intended to step down from their roles as Chief Executive Officer ("CEO") and Chairman and name as CEO their newly hired President – who was relatively new to Five Below and totally untested in the role of CEO at a publicly traded company – Five Below Inc raised its fiscal 2014 sales and earnings guidance twice, once on June 5, 2014 and then again on September 10, 2014.

The plaintiff alleges that with the price of Five Below Inc common stock increasing on their alleged misrepresentations about Five Below Inc's business metrics and financial prospects, reaching a high of nearly $48 in intraday trading, both of Five Below Inc's founders and its Chief Financial Officer cashed in, selling almost $30 million worth of their personally held shares at fraud-inflated prices.

Five Below Inc reported that its Total Revenue rose from $418.82 million for the 53 weeks period that ended on February 2, 2013 to $535.40 million for the 52 weeks period that ended on February 1, 2014 and that respective Net Income grew from $20.02 million to $32.14 million.

On June 4, 2014, Five Below Inc announced its first quarter fiscal 2014 financial results. Five Below Inc reported that its Net Sales rose from $95.6 million for the thirteen weeks period that ended on May 4, 2013 to $126 million for the thirteen weeks period that ended on May 3, 2014 and that its respective Net Income grew from $1.57 million to $3.08 million.

On September 10, 2014, Five Below Inc announced its second quarter fiscal 2014 financial results. Five Below Inc reported that its Net Sales rose from $117.08 million for the thirteen weeks period that ended on August 3, 2013 to $152.47 million for the thirteen weeks period that ended on August 2, 2014 and that its respective Net Income increased from $4.06 million to $8.23 million.
Shares of Five Below Inc (NASDAQ:FIVE) grew from $34.40 per share in July 2014 to as high as $46.66 per share in November 2014.

On December 4, 2014, Five Below Inc announced its third quarter Fiscal 2014 Financial Results. Five Below Inc reported that its Net Sales rose from $110.74 million for the thirteen weeks period that ended on Nov. 2, 2013 to $137.97 million for the thirteen weeks period that ended on Nov. 1, 2014 and that its respective Net Income increased from $1.67 million to $3.31 million.

The plaintiff alleges that on December 4, 2014, Five Below disclosed that its sales growth had diminished and that it was reducing its annual sales and profit forecasts and that same day, Five Below Inc's two founders announced their resignations as CEO and Chairman of Five Below – disclosing that the newly hired President was taking over as CEO.

Shares of Five Below Inc (NASDAQ:FIVE) declined from over $46 per share in November 2014 to as low as $37.14 per share on December 10, 2014.

On January 8, 2015, Five Below Inc updated previously communicated fourth quarter of fiscal 2014 net sales and earnings guidance based on quarter-to-date results for the nine weeks ended January 3, 2015.Shares of Five Below Inc (NASDAQ:FIVE) declined from $43.75 per share on January 8, 2014, to as low as $34.87 per share on January 9, 2014.

Those who purchased shares of Five Below Inc (NASDAQ:FIVE) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com