San Diego, CA -- (SBWIRE) -- 01/11/2022 -- An investor, who purchased NASDAQ: SNBR shares, filed a lawsuit against Sleep Number Corporation over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Sleep Number Corporation (NASDAQ: SNBR) have certain options and for certain investors are short and strict deadlines running. Deadline: February 14, 2022. NASDAQ: SNBR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Minneapolis, MN based Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. On April 21, 2021, Sleep Number Corporation 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 Corporation 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.

Then, on July 20, 2021, Sleep Number Corporation disclosed that it 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.

Shares of Sleep Number Corporation (NASDAQ: SNBR) declined from $150.85 per share in late March 2021 to as low as $93.53 per share on July 23, 2021.

The plaintiff claims that between February 18, 2021 and July 20, 2021, the defendants made false and misleading statements and failed to disclose that Sleep Number had suffered a severe disruption in its supply chain for foam as a result of Winter Storm Uri, that Sleep Number did not have in place the supply chain flexibility, redundancies, and fail-safes, as had been represented to investors, sufficient to offset the foam supply disruption caused by Winter Storm Uri, that because foam was a necessary component for Sleep Number's production of its primary mattress products, Sleep Number's ability to timely fulfill customer orders had been materially impaired, that thus, Sleep Number was unable to meet surging customer demand for Sleep Number's products, and that, 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.

Those who purchased shares of Sleep Number Corporation (NASDAQ: SNBR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.