Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Kentucky on behalf of investors who purchased Tempur-Pedic International Inc. (NYSE: TPX) stock between January 25, 2012 and June 5, 2012.
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The complaint alleges that Tempur-Pedic concealed that: (a) its competitive position had drastically weakened; (b) it was experiencing severe negative effects from competition; (c) its outlook for 2012 net sales and earnings per share was, in fact, negative; and (d) as a result, it lacked a reasonable basis for the positive statements made concerning its condition, competitive position, and outlook.
On May 7, 2012, Tempur-Pedic stated it would offer one of its most popular mattress models at a significant discount. Upon this news, the Company’s stock fell 14.85 percent, to close at $48.29 per share on May 7, 2012. Then on June 6, 2012, the Company announced that it was slashing its recently confirmed outlook for full-year net sales by more than 10% and earnings per share by nearly 29%. The Company's stock price then fell 48%, to close at $22.39 per share on June 6, 2012.If you suffered a loss in Tempur-Pedic you have until August 20, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/tempur-pedic-international-tpx. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.