NEW YORK, Feb. 11, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Sleep Number Corporation (NASDAQ: SNBR).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/sleep-number-corporation-loss-submission-form/?id=23551&from=4
The lawsuit seeks to recover losses for shareholders who purchased Sleep Number between February 18, 2021 and July 20, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until February 14, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Sleep Number Corporation issued materially false and/or misleading statements and/or failed to disclose that: (a) Sleep Number had suffered a severe disruption in its supply chain for foam as a result of Winter Storm Uri; (b) 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; (c) 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; (d) as a result of (a)-(c) above, Sleep Number was unable to meet surging customer demand for the Company's products; and (e) as a result of (a)-(d) above, 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 the Company's financial results.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
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New York, New York 10036
T: (212) 867-4490
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View original content:https://www.prnewswire.com/news-releases/snbr-shareholder-alert-jakubowitz-law-reminds-sleep-number-shareholders-of-a-lead-plaintiff-deadline-of-february-14-2022-301480138.html
SOURCE Jakubowitz Law
