According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Sleep Number had suffered a severe disruption in its supply chain for foam as a result of Winter Storm Uri;
- 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;
- because foam was a necessary component for Sleep Number’s production of its primary mattress products, Sleep Number’s ability to timely fulfill customer orders had been materially impaired;
- thus, Sleep Number was unable to meet surging customer demand for Sleep Number’s products; and
- 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 Number’s financial results.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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