Law Offices of Howard G. Smith announces an investigation on behalf of Five9, Inc. (“Five9” or the “Company”) (NASDAQ: FIVN) investors concerning the Company’s possible violations of federal securities laws.

On August 8, 2024, Five9 released its second quarter 2024 financial results, disclosing that it would cut its annual revenue guidance due to a “challenging bookings quarter” and “uncertain economic conditions.” Additionally, the Company revealed that customer budgets had been “constrained and scrutinized,” that “Q2 new logo bookings came in softer than expected,” and that sales execution “wasn’t up to snuff,” announcing that the Company was “no longer assuming” a dollar-based retention rate inflection in the second half of the year.

On this news, Five9’s stock price fell $11.25, or 26.5%, to close at $31.22 per share on August 9, 2024, thereby injuring investors.

If you purchased Five9 securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241212376186/en/