CASPER SLEEP INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Casper Sleep Inc.
LEAD PLAINTIFF DEADLINE IS AUGUST 18, 2020
NEW YORK, June 23, 2020 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York has been filed on behalf of persons and entities that purchased or otherwise acquired Casper Sleep Inc. ("Casper" or the "Company") (NYSE: CSPR) securities pursuant and/or traceable to the Company's initial public offering conducted on or around February 7, 2020 (the “IPO”).
All investors who purchased shares of Casper Sleep Inc, and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of Casper Sleep Inc., you may, no later than August 18, 2020, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Casper Sleep Inc.
In February 2020, the Company completed its initial public offering (“IPO”), in which it sold 8.35 million shares of common stock for $12 per share.
On April 21, 2020, Casper announced that it was decreasing the size of its global operations and sales team, as well as completely winding down its European operations, amounting to a loss of 21% of its workforce. The Company also stated that Gregory Macfarlane had resigned from his positions as Chief Financial Officer and Chief Operating Officer.
On May 12, 2020, the Company announced its first quarter 2020 financial results, reporting a net loss of $34.5 million (a 98% increase year over year) and an adjusted EBITDA loss of $22.9 million (a 60% increase year over year).
Since the IPO, Casper’s share price has traded as low as $6.37 per share, or about 47% below the $12 IPO price.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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