SNBR - Moore Kuehn PLLC Encourages Investors of Sleep Number Corporation (SNBR) to Contact Law Firm
New York, New York--(Newsfile Corp. - February 18, 2022) - Moore Kuehn, PLLC, a securities law firm located on Wall Street, is investigating potential claims regarding possible breaches of fiduciary duties. Please email fmoore@moorekuehn.com. The claims are related to whether insiders caused their companies to make false and/or misleading statements and/or failed to disclose, among other things, that:
- Sleep Number Corporation (NASDAQ: SNBR)
(i) Sleep Number suffered a disruption in its supply chain for foam after Winter Storm Uri; (ii) Sleep Number did not have the supply chain flexibility, redundancies, and fail-safes, sufficient to offset the foam supply disruption after Winter Storm Uri; (iii) because foam was a required material, Sleep Number's ability to fulfill customer orders had been impaired; (iv) Sleep Number was unable to meet demand for products; (v) Sleep Number had been forced to delay mattress shipments to consumers; and (vi) 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.
On April 21, 2021, Sleep Number revealed that Sleep Number had missed consensus sales estimates for the first fiscal quarter ended March 31, 2021 as a result of significant supply chain disruptions. Specifically, Sleep Number disclosed that Sleep Number had "more than $50 million of deliveries (two weeks) shifted out of the quarter due to temporary foam supply constraints," representing nearly 9% of Sleep Number's entire sales for the quarter.
On this news, the price of Sleep Number stock fell by nearly 12%. Then, on July 20, 2021, Sleep Number revealed that Sleep Number had missed consensus estimates on the top and bottom line for the second fiscal quarter ended June 30, 2021 and again blamed the disappointing results in significant part on "near-term supply constraints" and component shortages. On this news, the price of Sleep Number stock fell by nearly 13%, further damaging investors.
If you own SNBR please contact Fletcher Moore, Esq. by email at fmoore@moorekuehn.com. There is no cost to you. Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers.
Please visit http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/.
Attorney advertising. Prior results do not guarantee similar outcomes.
Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
fmoore@moorekuehn.com
(212) 709-8245
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