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Sleep Number Corporation

Corporate Governance / Derivative

  • Date:
  • 3/4/2022
  • Company Name:
  • Sleep Number Corporation
  • Stock Symbol:
  • SNBR
  • Status:
  • Investigating

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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Sleep Number Corporation (NASDAQ: SNBR) on behalf of long-term stockholders. Our investigation concerns whether the board of directors of Sleep Number have breached their fiduciary duties to the company.

Our investigation follows a securities class action complaint that was filed against Sleep Number on December 14, 2021.

The complaint alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Sleep Number had suffered a severe disruption in its supply chain for foam as a result of Winter Storm Uri; (ii) 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; (iii) because foam was a necessary component for Sleep Number's production of its primary mattress products, Sleep Numbers ability to timely fulfill customer orders had been materially impaired; (iv) thus, Sleep Number was unable to meet surging customer demand for Sleep Number's products; and (v) that, as a result, 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 Sleep Numbers financial results.

If you are a long-term stockholder of Sleep Number, 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, or telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Sleep Number Corporation. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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