SAN DIEGO, Nov. 08, 2022 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. has announced an update to the ongoing lawsuit against certain investors in the shares of Sleep Number Corporation (NASDAQ: SNBR).

Investors who purchased shares of Sleep Number Corporation (NASDAQ: SNBR) prior to February 2021, and who continue to hold any such NASDAQ: SNBR shares, also have certain options and should contact the Shareholders Foundation at @shareholdersfoundation.com or call +1(858) 779 – 1554.

On December 14, 2021, a lawsuit was filed for certain NASDAQ investors: SNBR shares against Sleep Number for alleged violations of securities laws. Plaintiff alleged that Defendants made false and misleading statements and failed to disclose that Sleep Number suffered a severe disruption to its foam supply chain as a result of the Uri winter storm, which Sleep Number n had not put in place the supply chain flexibility, redundancies and safeties, as had been represented to investors, sufficient to compensate for the interruption in foam supply caused by winter storm Uri, only because that foam was a necessary component for Sleep Number’s production of its main mattress products, Sleep Number’s ability to respond to customer orders in a timely manner had been significantly reduced, which Sleep Number was therefore unable to to meet growing customer demand for Sleep Number’s products and as a result Sleep Number had been forced to delay shipments. mattress editions to end consumers, pushing millions of dollars from sales in subsequent quarters and negatively impacting Sleep Number’s financial results.

On July 19, 2022, an amended complaint was filed.

Those who have purchased shares of Sleep Number Corporation should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@foundationshareholders.com
3111 Camino Del Rio North
Office 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional legal portfolio monitoring and claims filing service that researches shareholder issues and advises investors of securities class actions, settlements, judgments and other legal news related to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. All cases, investigations and/or settlements referenced are not filed/initiated/reached and/or related to the Shareholders Foundation. The information is provided as a public service only. It is not legal advice and should not be relied upon.