BOSTON, June 19, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a class action lawsuit on behalf of shareholders has been filed against Casper Sleep Inc. (CSPR) and certain of its officers for violations of the federal securities laws. The lead plaintiff deadline is August 18, 2020. Investors who purchased Casper shares are encouraged to contact the firm for a free case evaluation.
On February 7, 2020, Casper held its initial public offering (“IPO”) of 8.35 million shares at $12.00 each. The lawsuit, filed in the Eastern District of New York, alleges that the IPO materials contained untrue statements and omissions of material fact, including, among other things, that Casper’s profit margins were actually declining, rather than growing, that Casper was changing an important distribution partner, that Casper had a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, and that Casper’s core operations were not profitable. The stock is presently trading at less than $9.00 per share, or approximately 27% less than the IPO price.
If you purchased or acquired shares of Casper and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at email@example.com, or at https://shareholder.law/cases/?case=casper.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.