NEW YORK, NY / ACCESSWIRE / December 15, 2021 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Sleep Number Corporation (f/k/a Select Comfort Corporation) ("Sleep Number" or the "Company") (NASDAQ:SNBR). Investors who purchased Sleep Number shares are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/snbr.
The investigation concerns whether Sleep Number and certain of its officers and/or directors have violated federal securities laws.
On April 21, 2021, Sleep Number issued a press release announcing its financial results for its first fiscal quarter ended March 31, 2021. The release revealed that Sleep Number had missed consensus sales estimates for the quarter due to significant supply chain disruptions. Specifically, the release stated that Sleep Number had "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 price fell $14.80 per share, or 11.85%, to close at $110.13 per share on April 22, 2021. Then, on July 20, 2021, Sleep Number issued a press release announcing its financial results for its second fiscal quarter ended June 30, 2021. The release revealed that Sleep Number had missed consensus estimates on the top and bottom line for the quarter and again blamed the disappointing results in significant part on "near-term supply constraints" and component shortages. On this news, Sleep Number's stock price fell $14.46 per share, or 12.88%, to close at $97.78 per share on July 21, 2021.
If you are aware of any facts relating to this investigation or purchased Sleep Number shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/snbr. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration-attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC