NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Casper Sleep Inc. (“Casper” or the “Company”) (NYSE: CSPR). This investigation concerns whether Casper has violated federal securities laws and/or engaged in other unlawful business practices.
In February 2020, the Company completed its initial public offering (“IPO”), in which it sold 8.35 million shares of common stock for $12 per share.
On April 21, 2020, Casper announced that it was decreasing the size of its global operations and sales team and completely winding down its European operations, amounting to a loss of 21% of its workforce. The Company also stated that Gregory Macfarlane had resigned from his positions as Chief Financial Officer and Chief Operating Officer.
On May 12, 2020, the Company announced its first quarter 2020 financial results, reporting a net loss of $34.5 million (a 98% increase year over year) and an adjusted EBITDA loss of $22.9 million (a 60% increase year over year).
Since the IPO, Casper’s share price has traded as low as $6.37 per share, or about 47% below the $12 IPO price.
If you acquired Casper securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
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