Glancy binkow & goldberg llp announces investigation of tempur-pedic international, inc.

Los angeles--(business wire)--glancy binkow & goldberg llp announces that it is investigating potential claims on behalf of purchasers of the common stock of tempur-pedic international, inc. (“tempur-pedic” or the “company”) (nyse:tpx) concerning possible violations of federal securities laws. the investigation focuses on allegations that certain statements issued by tempur-pedic between january 25, 2012 and june 5, 2012 were false and misleading. tempur-pedic manufactures, markets and distributes bedding products in north america and internationally. the investigation concerns allegations that the company and certain of its executive officers misrepresented and/or failed to disclose that at the time the company issued its revenue forecast in january 2012, the competitive landscape in its industry would make the company’s revenue guidance impossible to achieve, and that certain company insiders capitalized on this material adverse information to sell tempur-pedic shares at inflated prices, before the truth concerning the company’s financial performance was disclosed to the market. on june 6, 2012, the company revised its full-year profit and revenue forecasts amid lower-than-expected second quarter sales in north america. for the period ending june 30, 2012 the company announced that: (i) sales were expected to be 3-5% less than the same period in the prior year; (ii) the company’s full-year earnings were expected to be approximately $2.70 per share, down from a previous forecast of as much as $3.95 per share; and (iii) sales for 2012 were expected to total approximately $1.43 billion, compared with a prior forecast of a maximum $1.65 billion. if you purchased tempur-pedic stock between january 25, 2012 and june 5, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact michael goldberg, esquire, of glancy binkow & goldberg llp, 1925 century park east, suite 2100, los angeles, california 90067, by telephone at (310) 201-9150, toll free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. this press release may be considered attorney advertising in some jurisdictions under the applicable law and ethical rules.
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