CSPR Investor Alert: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Casper Sleep Inc. and Encourages Investors to Contact the Firm
NEW YORK, June 10, 2020 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Casper Sleep Inc. ("Casper" or the Company") (NYSE: CSPR). Investors who purchased Casper securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/cspr.
The investigation concerns whether Casper and certain of its officers and/or directors have violated federal securities laws.
On February 7, 2020, Casper stock dropped 18% on their second day of trading as a public company, falling below its initial public offering issue price of $12. The New York Financial Times reported that, "The share price drop gives the company a market capitalization of $437m and comes after Casper had reduced its value in the lead-up to the IPO."
On April 21, 2020, Casper revealed that it was dropping about 21% of its workforce by downsizing its global operations and sales team and specifically its European operations. Casper also announced that Gregory Macfarlane had resigned from Chief Financial Officer and Chief Operating Officer.
On May 12, 2020, Casper stated its financial results for first quarter 2020, exposing a net loss of $34.5 million and an adjusted EBITDA loss of $22.9. Since the IPO, Casper stock has traded as low as $6.37 per share, or about 47% below the $12 IPO price.
If you are aware of any facts relating to this investigation, or purchased Casper shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/cspr. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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