Law Offices of Howard G. Smith announces that all purchasers of the common stock of Tempur-Pedic International, Inc. (“Tempur-Pedic” or the “Company”) (NYSE:TPX) between January 25, 2012 and June 5, 2012, inclusive (the “Class Period”), have until August 20, 2012 to move the Court to serve as Lead Plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Eastern District of Kentucky.
The Complaint alleges that, throughout the Class Period, the defendants misrepresented and/or failed to disclose that: (1) Tempur-Pedic’s profit and revenue forecasts issued in January 2012 were lacking in any reasonable basis; (2) at the time the Company issued its profit and revenue forecast in January 2012, Company insiders knew that the competitive landscape in its industry was more difficult than described and would thus make the Company’s guidance impossible to achieve; (3) certain Company insiders capitalized on this material adverse information to sell Tempur-Pedic shares at inflated prices before the truth concerning the Company’s sales information was disclosed to the market; (4) the Company lacked adequate internal and financial controls; and (5), as a result of the foregoing, defendants’ statements concerning Tempur-Pedic’s business and operational prospects were materially false and misleading at all relevant times.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Tempur-Pedic common stock between January 25, 2012 and June 5, 2012, you have certain rights, and have until August 20, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or have questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.