Schubert Jonckheer & Kolbe LLP reminds Five9, Inc. (NASDAQ: FIVN) investors that the firm is investigating potential wrongdoing at the company following a 26% stock drop and court ruling that key claims in a securities fraud lawsuit against Five9 and its former CEO and CFO will move forward. Current shareholders are encouraged to contact the firm.
The lawsuit alleges Five9 misled investors between February and August 2024 regarding its projected 2024 revenue growth and macroeconomic conditions affecting sales causing its stock to trade at artificially inflated prices. On February 23, 2026, U.S. District Judge P. Casey Pitts found the complaint sufficiently alleged that defendants acted with an intent to deceive or with deliberate recklessness in making these misleading statements.
During this period, company insiders sold over $8 million in stock. When the truth was revealed in August 2024 and Five9 reported disappointing second-quarter 2024 results and lowered its annual revenue guidance, the stock price fell 26%.
We are investigating potential wrongdoing by Five9’s directors and officers in connection with these allegations.
If you own Five9 stock, you may have legal options. To obtain additional information about your legal rights, please fill out the form below to learn more.
Schubert Jonckheer & Kolbe LLP reminds Five9, Inc. (NASDAQ: FIVN) investors that the firm is investigating potential wrongdoing at the company following a 26% stock drop and court ruling that ...