Sleep Number Corporation
(NASDAQ GS: SNBR)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Sleep Number Corporation ("Sleep Number" or the "Company") on behalf of stockholders. A class action complaint has been filed against Sleep Number. The complaint alleges that defendants made materially false and/or misleading statements because they failed to disclose the following adverse facts pertaining to the Company's business, operations, and financial condition, which were known to or recklessly disregarded by defendants: (i) that the Company had suffered a severe disruption in its supply chain for foam as a result of Winter Storm Uri; (ii) that the Company did not have in place the supply chain flexibility, redundancies, and fail-safes sufficient to offset the foam supply disruption caused by Winter Storm Uri; (iii) that, because foam was a necessary component for the Company's production of its primary mattress products, the Company's ability to timely fulfill customer orders had been materially impaired; (iv) that, as a result, the Company was unable to meet surging customer demand for the Company's products; (v) that, as a result, the Company had been forced to delay mattress shipments to end consumers, resulting in order cancelations and pushing millions of dollars' worth of sales into subsequent quarters and negatively impacting the Company's financial results; and (vi) that, as a result, the Company's 2020 Form 10-K did not fairly present the Company's result of operations, was not the product of effective internal controls, and was not free from fraud.