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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 CORPORATION CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed against Sleep Number Corporation in the United States District Court for the District of Minnesota

December 21, 2021 GMT

NEW YORK, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has 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”).

All investors who purchased the shares of Sleep Number Corporation and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

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If you have incurred losses in Sleep Number Corporation, you may, no later than February 14, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Sleep Number Corporation.

PLEASE CLICK HERE TO JOIN CASE

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.

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.

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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.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com  or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.