LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Tempur Sealy International, Inc. (“Tempur Sealy” or the “Company”) (NYSE: TPX). Investors who purchased or otherwise acquired shares between July 28, 2016 and January 27, 2017 inclusive (the “Class Period”) are encouraged to contact the firm in advance of the May 23, 2017 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Tempur Sealy made materially false and misleading statements and/or failed to disclose: that prior to and during the Class Period, Mattress Firm Holding Corp. (“Mattress Firm”), the Company’s largest customer which accounted for approximately 25% of its 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; that Tempur Sealy was engaged in active discussions with Mattress Firm concerning modifications to their long-term supply agreements; that Mattress Firm had been seeking significant economic concessions from Tempur Sealy; that the Company lacked a reasonable basis for its positive statements associated with Mattress Firm; and that based on the above, the Company lacked a reasonable basis for its positive statements about its then-current business and future financial prospects. On January 27, 2017, Tempur Sealy announced that it would cease doing business with Mattress Firm during the first quarter of 2017. When this news was announced, shares of Tempur Sealy fell in value, causing investors harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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