SAN DIEGO, Nov. 08, 2022 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. announced an update to the lawsuit pending for certain investors in Sleep Number Corporation (NASDAQ: SNBR) stock.

Investors who purchased shares of Sleep Number Corporation (NASDAQ: SNBR) prior to February 2021 and continue to hold shares of that NASDAQ: SNBR also have certain options and should contact the Shareholders Foundation at [email protected] or by calling +1(858) 779 – 1554.

On December 14, 2021, a lawsuit was filed on behalf of certain investors in NASDAQ: SNBR stocks against Sleep Number alleging securities law violations. The plaintiff alleged that the defendants made false and misleading statements and failed to disclose that Sleep Number suffered a severe disruption in its foam supply chain as a result of Winter Storm Uri, that Sleep Number did not have the supply chain flexibility, redundancies and failovers, such as they were presented to investors sufficient to offset the disruption in foam supplies caused by Winter Storm Uri, since foam was a necessary component to the production of Sleep Number’s primary mattress products, Sleep Number’s ability to fulfill timely customer orders was significantly impacted resulting in Sleep Number’s inability to meet increasing consumer demand for Sleep Number’s products and, as a result, Sleep Number being forced to delay shipments of mattresses to end users, worth millions of dollars s revenue in subsequent quarters and adversely impacted Sleep Number’s financial results.

An amended complaint was filed on July 19, 2022.

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

CONTACT:
Shareholder Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Episode 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal advisory firm…