Five9, Inc.

Registration Deadline:

02/03/2025

Submit Your Information

A securities class action has been filed in the USDC — N.D.CA. against Five9, Inc. (FIVN) (“Five9” or the “Company”), on behalf of all those that purchased or otherwise acquired Five9 securities, including call options, between June 4, 2024, and August 8, 2024, both dates inclusive (the “Class Period”).

 

Five9 provides software for a cloud-based contact center. The Company’s solutions are designed to enable Five9’s clients to manage customer interactions through various channels, including voice, email, chat, and social media. The Company predominately generates revenue through subscriptions, primarily based on the number of named agents allowed to concurrently access Five9’s solutions, usage, access to functionalities and applications, and professional services..

 

The complaint alleges defendants made false and/or misleading statements and/or failed to disclose that:

(1) Five9’s net new business was not “strong irrespective of the macro” and was, in fact, hampered by macroeconomic issues such as constrained and scrutinized customer budgets;

(2) Five9 was in the midst of a challenging bookings quarter due, in part, to sales execution and efficiency issues, and the Company was not “seeing very strong bookings momentum”; and

(3) Defendants did not have “enough information in terms of [their] existing customers that are going live” such that the statements that Five9 would see a positive inflection in its dollar-based retention rate lacked a reasonable basis.

 

If you purchased Five9 securities, including call options, during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information.”

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

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