01:33 PM EDT, 10/22/2024 (MT Newswires) -- Five9 ( FIVN ) is facing increased shareholder activism after another firm built a stake in the company and began campaigning for a board seat, Reuters reported Tuesday, citing sources familiar with the matter.

According to Reuters, Legion Partners has amassed a stake in the contact center software provider and is vying for a seat on its board, as well as cost reductions.

Previously, Anson Funds Management bought a stake in Five9 ( FIVN ) and urged it to explore a sale.

Five9 ( FIVN ) previously rejected an acquisition offer from Zoom Video Communications (ZM).

Five9 ( FIVN ) and Legion Partners did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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