Sleep Number Corp. Company News: Berger Montague Investigates Securities Fraud Allegations Against Sleep Number Corp. (SNBR); Lead Plaintiff Deadline is February 14, 2022

Philadelphia, Pennsylvania--(Newsfile Corp. - January 24, 2022) - Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities of Sleep Number Corp. ("Sleep Number" or the "Company") (NASDAQ: SNBR) between February 18, 2021 and July 20, 2021 (the "Class Period").

If you purchased Sleep Number securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Michael Dell'Angelo at mdellangelo@bm.net or (215) 875-3080, or visit: https://bergermontague.com/cases/berger-montague-investigates-securities-fraud-against-sleep-number-corp/.

Whistleblowers: Anyone with non-public information regarding Sleep Number is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

According to a recently filed complaint, Sleep Number and its senior management falsely represented and/or and failed to disclose that the Company had suffered a severe disruption in its supply chain for foam as a result of Winter Storm Uri, and, contrary to its representations, the Company did not have in place the supply chain flexibility and redundancies necessary to offset these disruptions. Consequently, Sleep Number's ability to timely fulfill customer orders had been materially impaired.

On April 21, 2021, Sleep Number announced that it had missed sales estimates for Q1 2021 as a result of significant supply chain disruptions. On this news, the price of Sleep Number stock fell by nearly 12%, closing at $110.13 per share.

Then, on July 20, 2021, the Company announced disappointing results for Q2 2021, again blaming its performance on "near-term supply constraints." Shares fell by $14.46 per share, or 13%, from a closing price of $112.24 per share on July 20 to a close of $97.78 per share on July 21.

Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contacts

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net

Michael Dell'Angelo, Executive Shareholder
Berger Montague
(215) 875-3080
mdellangelo@bm.net

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111330