San Diego, March 14, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Sealy Corporation (NYSE:ZZ) over potential breaches of fiduciary duties by certain officers and directors at Sealy Corporation in connection with the board of directors relationship with Kohlberg Kravis Roberts & Co. L.P.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Sealy Corporation (NYSE:ZZ) concerns whether certain directors and officers at Sealy Corporation breached their fiduciary duties.

Sealy Corporation reported that its increase in its Total Revenue from $1.17billion for a 52weeks period ending on Nov. 29, 2009 to $1.23billion for a 52weeks period ending on Nov. 27, 2011, its Net Income of $13.48million for the 52weeks period ending on Nov. 29, 2009 turned into a Net Loss of $13.74million for a 52weeks period ending on Nov. 28, 2010, respectively a Net Loss of $9.89million for 52weeks period ending on Nov. 27, 2011.

Then on March 11, 2012 a letter was sent to the board of directors of Sealy Corporation by H Partners Management, LLC, which owns approximately 14.5% of Sealy Corporations outstanding shares, expressing concern that the Sealy Corporation Board might have been advancing the interests of Kohlberg Kravis Roberts & Co. L.P. over the interests of all Sealy Corp. shareholders.

According to an article published on March 12, 2012, H Partners Managements' letter complains that Kohlberg Kravis Roberts & Co. L.P. receives 'disproportionate representation of at least 78% on Sealy's Board, including three direct representatives on the board,' while the 53.8% non-KKR owners of the Company have no board representation, and Sealy Corporation is saddled with 'high debt, bad management' and 'high fee payouts.'
Shares of Sealy Corporation (NYSE:ZZ) dropped from over $17.50 per share in February 2007 to $1.45 in February 2011 and closed on March 14, 2012 at $1.83 per share.