Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Tempur Sealy International (NYSE:TPX) in connection to alleged violations of securities laws by TPX. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Tempur Sealy International between July 28, 2016 and January 27, 2017.
The class action complaint specifically alleges that during the period in question, TPX might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that TPX’s largest customer, Mattress Firm Holding Corporation, a company that comprised a quarter of TPX’s Q3 and Q4 2015 net sales, was participating in acquisition negotiations; that if the company were acquired, the acquisition would have adverse effects on TPX’s Q3 and Q4 2016 operating results; that TPX had been discussing long-term supply agreement adjustments with Mattress Firm Holding Corporation; that thus the company’s positive statements concerning Mattress Firm Holding Corp. had no reasonable basis; and thus the company’s positive statements concerning TPX also had no reasonable basis.
According to the company’s website, Tempur-Sealy is “the world’s largest bedding provider.” The description continues: “The company develops, manufactures and markets mattresses, adjustable bases, pillows and other sleep and relaxation products. Combining a proud history and groundbreaking innovation, the company holds some of the most highly recognized brands in the industry.”
A class action lawsuit has already been filed in connection with Tempur Sealy International. If you wish to serve as lead plaintiff in the TPX lawsuit, you must move the Court no later than May 23, 2017. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.