Lawsuit for Investors in shares of Casper Sleep Inc. (NYSE: CSPR) announced by Shareholders Foundation

SAN DIEGO, June 10, 2020 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Casper Sleep Inc. (NYSE: CSPR).

Investors, who purchased shares of Casper Sleep Inc. (NYSE: CSPR), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Casper Sleep Inc went public in early February 2020 and sold 8.35 million shares at $12.00 per share. Since then NYSE: CSPR shares declined to as low as $3.15 per share in March 2020.

The plaintiff alleges, among other things, that the Offering Documents that were filed in connection with the initial public offering (IPO) made false and/or misleading statements and/or failed to disclose that Casper Sleep Inc’s profit margins were actually declining, rather than growing, that Casper Sleep Inc was changing an important distribution partner, costing it 130 basis points of gross margin in the first quarter of 2020 alone, that Casper Sleep Inc was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, further impairing the Company’s profitability, that Casper Sleep Inc  was suffering accelerating losses, further placing its ability to achieve positive cash flows and profitability out of reach, and that Casper Sleep Inc’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.

Those who purchased Casper Sleep Inc. (NYSE: CSPR) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc. 
Michael Daniels 
+1 (858) 779-1554 
mail@shareholdersfoundation.com 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.