Five9(FIVN) Prnewswire·2025-01-21 10:45Lawsuit Overview - Levi & Korsinsky, LLP has notified investors of a class action securities lawsuit against Five9, Inc (NASDAQ: FIVN) [1] - The lawsuit aims to recover losses for investors affected by alleged securities fraud between June 4, 2024 and August 8, 2024 [1] Allegations - Defendants allegedly made false statements and/or concealed that Five9's net new business was not strong irrespective of macroeconomic issues, and was hampered by constrained customer budgets [2] - Five9 faced a challenging bookings quarter due to sales execution and efficiency issues, and lacked strong bookings momentum [2] - Defendants allegedly did not have sufficient information about existing customers going live, making statements about a positive inflection in dollar-based retention rate lack a reasonable basis [2] Next Steps - Investors who suffered losses during the relevant period have until February 3, 2025 to request appointment as lead plaintiff [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees [3] About Levi & Korsinsky - The firm has secured hundreds of millions of dollars for aggrieved shareholders over the past 20 years [4] - Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the top securities litigation firms in the US [4]