Mattress Firm Holding Corp.
|Company Name||Mattress Firm Holding Corp.|
The Firm announces an investigation on behalf of Mattress Firm Holding Corp. (“Mattress Firm” or the “Company”) (NASDAQ: MFRM) investors. Investors who have suffered losses on their investment in Mattress Firm securities are encouraged to contact GPM to discuss their legal rights.
The investigation concerns whether or not the Company and its executives made materially false and misleading statements regarding the Mattress Firm’s recent impairment charge and a shift in the Company’s branding and strategy. On March 21, 2016, Mattress Firm reported fourth quarter earnings of $0.53 per share, which was lower than analyst expectations of $0.56 per share and released full year guidance of $2.50 to $2.60 per share, which was lower than the $2.72 per share forecast. Concurrently, Mattress Firm announced that President Ken Murphy would replace CEO Steve Stagner, effective immediately. On this news, shares of Mattress Firm fell $3.04 per share or over 7% to close at $39.65 per share.
On June 9, 2016, Mattress Firm reduced its full year guidance and announced it would incur an impairment charge of $138.7 million in the first quarter stemming from a previously-undisclosed decision to rebrand all of its stores under the Mattress Firm name. On this news, shares of Mattress Firm fell $4.18 per share or over 12% to close at $29.40 per share on June 10, 2016.
If you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224 or by email to firstname.lastname@example.org.
Submit Your Information
If you suffered a loss on your Mattress Firm Holding Corp. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.