Tempur-Pedic International Inc. : Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Tempur-Pedic International, Inc.
06/22/2012| 09:35pm US/Eastern
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Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed in the United States District Court for the Eastern District
of Kentucky on behalf of a class comprising all persons or entities who
purchased or otherwise acquired the common stock of Tempur-Pedic
International, Inc. ("Tempur-Pedic" or the "Company") (NYSE:TPX) between
January 25, 2012 and June 5, 2012, inclusive (the "Class Period").
Tempur-Pedic manufactures, markets and distributes bedding products in
North America and internationally. The Complaint alleges that,
throughout the Class Period, the defendants issued materially false and
misleading statements concerning the Company's business and operations.
Specifically, the Complaint alleges that the defendants misrepresented
and/or failed to disclose that: (1) the Company's profit and revenue
forecasts issued in January 2012 were lacking in any reasonable basis;
(2) at the time the Company issued its profit and revenue forecast in
January 2012, Company insiders knew that the competitive landscape in
its industry was more difficult than described and would thus make the
Company's guidance impossible to achieve; (3) certain Company insiders
capitalized on this material adverse information to sell Tempur-Pedic
shares at inflated prices before the truth concerning the Company's
sales information was disclosed to the market; (4) the Company lacked
adequate internal and financial controls; and (5), as a result of the
foregoing, the Company's statements concerning its business and
operational prospects were materially false and misleading at all
relevant times.
No class has yet been certified in the above action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased Tempur-Pedic common stock between January 25, 2012 and
June 5, 2012, you have certain rights, and have until August 20, 2012 to
move for lead plaintiff status. To be a member of the class you need not
take any action at this time, and you may retain counsel of your choice.
If you wish to discuss this action or have any questions concerning this
Notice or your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215)
638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
© Business Wire 2012
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