May 23 Deadline Alert: GPM Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tempur Sealy International, Inc.
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the May 23, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Tempur Sealy International, Inc. (“Tempur Sealy” or the “Company”) (NYSE: TPX) securities between July 28, 2016 and January 27, 2017, inclusive (the “Class Period”). Tempur Sealy investors have until May 23, 2017 to file a lead plaintiff motion.
According to the complaint filed in this lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Tempur Sealy’s largest customer, Mattress Firm, had been engaged in active negotiations to be acquired, which was reasonably likely to have a material adverse effect in Tempur Sealy’s 2016 third and fourth quarter operating results; (2) Tempur Sealy was engaged in active discussions with Mattress Firm concerning modifications to their long-term supply agreements; (3) Mattress Firm had been seeking significant economic concessions from Tempur Sealy; (4) defendants lacked a reasonable basis for Tempur Sealy’s positive statements about Mattress Firm; and (5) as a result, defendants lacked a reasonable basis for their positive statements about Tempur Sealy’s business and future financial prospects. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased or otherwise acquired Tempur Sealy shares during the Class Period you may move the Court no later than May 23, 2017 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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