Lawsuit for Investors in shares of Casper Sleep Inc. (NYSE: CSPR) over alleged Securities Laws Violations filed

The Shareholders Foundation announced that an investor, who purchased shares of Casper Sleep Inc. (NYSE: CSPR), filed a lawsuit over alleged violations of Securities Laws by Casper Sleep Inc. in connection with the company’s initial public offering (“IPO”).

Investors who purchased shares of Casper Sleep Inc. (NYSE: CSPR) have certain options and you 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basis points of gross margin in the first quarter of 2020 alone, that Casper Sleep Inc was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, further impairing the Company’s profitability, that Casper Sleep Inc was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 shares of Casper Sleep Inc. (NYSE: CSPR) have certain options and should contact the Shareholders Foundation.

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

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

This release was published on openPR.