SNBR Investors Have Opportunity to Lead Sleep Number Corporation Securities Fraud Lawsuit
LOS ANGELES, Jan. 6, 2022 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Sleep Number Corporation ("Sleep Number" or the "Company") (NASDAQ: SNBR).
Class Period: February 18, 2021 – July 20, 2021
If you wish to serve as lead plaintiff of the Sleep Number lawsuit, you can submit your contact information at www.glancylaw.com/cases/sleep-number-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at email@example.com to learn more about your rights.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (i) Sleep Number had suffered a severe disruption in its supply chain for foam as a result of Winter Storm Uri; (ii) 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; (iii) because foam was a necessary component for Sleep Numbers production of its primary mattress products, Sleep Numbers ability to timely fulfill customer orders had been materially impaired; (iv) thus, Sleep Number was unable to meet surging customer demand for Sleep Numbers products; and (v) 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 Numbers financial results.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View original content to download multimedia:https://www.prnewswire.com/news-releases/snbr-investors-have-opportunity-to-lead-sleep-number-corporation-securities-fraud-lawsuit-301454975.html
SOURCE Glancy Prongay & Murray LLP
Company Codes: NASDAQ-NMS:SNBR
© 2022 PR Newswire. All Rights Reserved.