A Deadline is coming up on August 18, 2020 in the lawsuit for certain investors in Casper Sleep Inc. (NYSE:CSPR) and NYSE:CSPR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/11/2020 -- A deadline is coming up on August 18, 2020 in the lawsuit filed for certain investors of Casper Sleep Inc. (NYSE: CSPR).
Investors who purchased shares of Casper Sleep Inc. (NYSE: CSPR) have certain options and there are strict and short deadlines running. Deadline: August 18, 2020. NYSE: CSPR) stockholders should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of Casper Sleep Inc. (NYSE: CSPR) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Offering Documents made false and/or misleading statements and/or failed to disclose that Casper's profit margins were actually declining, rather than growing, that Casper was changing an important distribution partner, costing it 130 basis points of gross margin in the first quarter of 2020 alone, that Casper was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, further impairing the Company's profitability, that Casper was suffering accelerating losses, further placing its ability to achieve positive cash flows and profitability out of reach, that Casper's core operations were not profitable, but were causing the Company to suffer over $40 million in negative cash flows during the first quarter of 2020 alone and doubling its quarterly net loss year over year, that as a result of the foregoing, Casper's ability to achieve profitability, implement its growth initiatives, and expand internationally had been misrepresented in the Offering Documents, as the Company needed to shutter its European operations, halt all international expansion, jettison over one fifth of its global corporate workforce, and significantly curtail new store openings in order to avoid an imminent cash and liquidity crisis, let alone achieve positive operating cash flows, and that as a result of the foregoing, Casper's revenue growth rate was not sustainable and had not positioned the Company to achieve profitability.
Those who purchased shares of Casper Sleep Inc. (NYSE: CSPR) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.