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Tempur-Pedic International Inc (NYSE: TPX) Investor Securities Class Action Lawsuit 06/20/2012

  • If you purchased shares of Tempur-Pedic International Inc (NYSE: TPX), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Tempur Sealy International Inc
Security
NYSE: TPX

Case Name
Tempur-Pedic Shareholder Class Action Lawsuit 06/20/2012
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of Kentucky

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

June 4, 2015 - The U.S. Court of Appeals for the Sixth Circuit ordered the judgment of the district court is affirmed and the case is dismissed.
June 6, 2014 - The lead plaintiffs filed a notice of appeal.

March 31, 2014 - The court granted the defendants' motion to dismiss.

June 7, 2013 - The defendants filed a motion to dismiss.

March 6, 2013 - The lead plaintiffs filed an amended consolidated complaint.

December 3, 2012 - Lead plaintiffs and lead counsel were appointed.

November 2, 2012 - All cases were consolidated.

August 20, 2012 - Lead plaintiff motions were filed.

June 20, 2012 - An investor in shares of Tempur-Pedic International Inc (now known as Tempur Sealy International Inc) (NYSE: TPX) filed a lawsuit in the U.S. District Court for the Eastern District of Kentucky against Tempur-Pedic International Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 25, 2012 and June 5, 2012.

According to the complaint the plaintiff alleges on behalf of behalf of purchasers of Tempur-Pedic International Inc (NYSE: TPX) common stock between January 25, 2012 and June 5, 2012, that Tempur-Pedic International Inc and certain of its officers violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder.

Specifically, the plaintiff alleges that between January 25, 2012 and June 5, 2012, Tempur-Pedic International Inc allegedly misrepresented its deteriorating competitive position and financial performance for its full year of operations in 2012.

On April 19, 2012, Tempur-Pedic International Inc (NYSE: TPX) announced its financial results for the first quarter ended March 31, 2012 and confirmed its guidance for the 2012 fiscal year.

Then on June 6, 2012, Tempur-Pedic International Inc (NYSE: TPX) commented on its second quarter performance and revised its financial guidance for the 2012 fiscal year.

Tempur-Pedic International Inc (NYSE: TPX) shares fell from $43.67 per share on June 5, 2012 to as low as $21.28 per share on June 7, 2012.