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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

SLEEP NUMBER ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Sleep Number Corporation and Encourages Investors to Contact the Firm

December 17, 2021 GMT

NEW YORK, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Sleep Number Corporation (“Sleep Number” or the “Company”) (NASDAQ: SNBR) in the United States District Court for the District of Minnesota on behalf of all persons and entities who purchased or otherwise acquired Sleep Number securities between February 18, 2021 and July 20, 2021, both dates inclusive (the “Class Period”). Investors have until February 14, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

On April 21, 2021, Sleep Number released its first quarter 2021 financial results, missing consensus sales estimates as a result of supply chain disruptions due to Winter Storm Uri in February 2021. Specifically, “more than $50 million of deliveries (two weeks) shifted out of the quarter due to temporary foam supply constraints,” representing nearly 9% of the Company’s entire sales for the quarter.

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On this news, Sleep Number’s stock fell $14.80, or 12%, to close at $110.13 per share on April 22, 2021, thereby injuring investors.

Then, on July 20, 2021, Sleep Number released its second quarter 2021 financial results. Once again, the results missed consensus estimates, which the Company blamed on supply constraints and component shortages.

On this news, Sleep Number’s stock fell $14.46, or 12.88%, to close at $97.78 per share on July 21, 2021, thereby injuring investors further.

If you purchased or otherwise acquired Sleep Number shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com