The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Minnesota on behalf of investors who purchased Sleep Number Corporation (NASDAQ: SNBR) securities between February 18, 2021 and July 20, 2021.
According to the Sleep Number lawsuit, throughout the Class Period defendants made 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.
If you suffered a loss in Sleep Number you have until February 14, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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