Scott + Scott, LLC Investigates Possible Securities Fraud Case Against Tempur-Pedic International
COLCHESTER, Conn., September 21, 2005 — Scott + Scott, LLC (http://www.scott-scott.com) has been requested to investigate potential securities fraud against Tempur-Pedic International, Inc. (“Tempur-Pedic”) (NYSE: TPX). Purchasers of securities in Tempur-Pedic from January 27, 2005 through September 19, 2005 inclusive can contact the firm for more information. Tempur-Pedic engages in the manufacture, marketing and distribution of advanced visco-elastic products under the TEMPUR and Tempur-Pedic brands worldwide. Thus far, the investigation indicates millions of dollars in insider trading.
If you purchased Tempur-Pedic securities and have information or would like more information or if you wish to discuss this action or have questions concerning this notice, you may contact this firm for more information. Contact Scott+Scott partner Neil Rothstein at [email protected] (800/332-2259, ext. 22 or cell 619/251-0887) or attorney Amy K. Saba at [email protected] (800/332-2259, ext. 26).
Scott+Scott, LCC’s investigation indicates that during the time period stated above, Tempur-Pedic and certain individual defendants may have violated sections of the Securities and Exchange Act of 1934 causing its stock to trade at artificially inflated levels. The investigation further shows that Tempur-Pedic provided materially false and misleading statements in the Company’s financial reports and press releases in a scheme that (a) deceived the investing public regarding Tempur-Pedic’s prospects and business; (b) allowed insiders to sell over 1.4 million shares of Tempur-Pedic stock for proceeds of $28.7 million; (c) allowed reselling shareholders to sell 67 million shares of Tempur-Pedic stock at inflated prices; and (d) caused shareholders to purchase Tempur-Pedic’s publicly traded securities at inflated prices.
If Scott + Scott’s investigation proves viable to support these allegations, shareholders may seek to recover damages on behalf of all purchasers of Tempur-Pedic securities during the time period mentioned above. Scott+Scott, LLC, has expertise in prosecuting investor class actions. Scott+Scott, LLC litigates cases throughout the nation on behalf of citizens of every continent. The firm dedicates itself to client communication and satisfaction and currently is litigating major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, charities, foundations, individuals and other entities worldwide.List your legal jobs on the LawFuel Network