NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Tempur Sealy International, Inc. (“Tempur Sealy”) (NYSE:TPX) between July 28, 2016 and January 27, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the SDNY. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that defendants made material misstatements regarding Tempur Sealy's business and prospects, including that: (i) during the Class Period, Mattress Firm Holding Corp. ("Mattress Firm"), the Company's largest customer which accounted for approximately 25% of the Tempur Sealy's 2015 net sales, had been engaged in active negotiations to be acquired and that any such acquisition was reasonably likely to have a material adverse effect in Tempur Sealy's 2016 third and fourth quarter operating results; (ii) during the Class Period, Tempur Sealy was engaged in active discussions with Mattress Firm concerning modifications to their long-term supply agreements; (iii) Mattress Firm had been seeking significant economic concessions from Tempur Sealy during the Class Period; (iv) defendants lacked a reasonable basis for the Company's positive statements associated with Mattress Firm; and (v) accordingly, defendants lacked a reasonable basis for their positive statements about Tempur Sealy's business and financial prospects.
If you suffered a loss in Tempur Sealy you have until May 23, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.