Pomerantz Law Firm Alert for Shareholders with Losses on Five9, Inc. Investment
A class action lawsuit has been filed against Five9 Inc. (FIVN) on behalf of investors who purchased the company’s securities between February 12, 2021, and August 11, 2021. The lawsuit alleges that Five9 made false and misleading statements about its business prospects and financial performance during this period.
The lawsuit claims that Five9 failed to disclose that it was experiencing a significant hit to its sales and sales pipeline due to the implementation of Company-specific operational weaknesses. The lawsuit also alleges that Five9 failed to disclose that its financial results were inflated due to the Company’s practice of selling its software to customers based on their goodwill instead of the value of the software sold.
According to the lawsuit, when the truth about Five9’s business practices and financial performance came to light, the Company’s stock price plummeted, causing significant losses to investors.
If you purchased Five9 securities between February 12, 2021, and August 11, 2021, you may be eligible to join the class action lawsuit. The deadline to seek appointment as lead plaintiff in the lawsuit is December 6, 2021.
For more information on how to participate in the class action lawsuit against Five9, you can visit the Pomerantz LLP website or contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529. Don’t hesitate to take action if you believe you have been a victim of securities fraud – the deadline is approaching soon.
