SAN DIEGO, June 21, 2022 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in NASDAQ: SNBR shares.
Investors, who purchased Sleep Number Corporation (NASDAQ: SNBR) shares prior to February 2021 and continue to hold any of those NASDAQ: SNBR shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On December 14, 2021, a lawsuit was filed against Sleep Number Corporation over alleged securities laws violations. The plaintiff alleged that the defendants made false and misleading statements and failed to disclose that Sleep Number had suffered a severe disruption in its supply chain for foam as a result of Winter Storm Uri, that Sleep Number did not have in place the supply chain flexibility, redundancies, and fail-safes, as had been represented to investors, sufficient to offset the foam supply disruption caused by Winter Storm Uri, that because foam was a necessary component for Sleep Number’s production of its primary mattress products, Sleep Number’s ability to timely fulfill customer orders had been materially impaired, that thus, Sleep Number was unable to meet surging customer demand for Sleep Number’s products, and that, as a result, Sleep Number had been forced to delay mattress shipments to end consumers, pushing millions of dollars’ worth of sales into subsequent quarters and negatively impacting Sleep Number’s financial results.
On May 20, 2022, the court appointed co-lead plaintiffs to lead the case.
Those who purchased Sleep Number Corporation (NASDAQ: SNBR) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
