NASDAQ:SCSS Investor Alert: Investigation of Select Comfort Corp.
The Shareholders Foundation announces that an investigation on behalf of investors of Select Comfort Corp. (NASDAQ:SCSS) shares was launched over potential securities laws violations by Select Comfort Corp. and certain of its directors and officers in connection certain financial statements.
Minneapolis, Minnesota Select Comfort Corporation is a bed manufacturer and retailer.
Investors who purchased shares of Select Comfort Corp. (NASDAQ:SCSS), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Select Comfort Corp. (NASDAQ:SCSS) concerning whether a series of statements by Select Comfort Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Select Comfort Corp reported that its Total Revenue rose from $544.20 million for the 52 weeks period that ended on Jan. 2, 2010 to $743.20 million for the 52 weeks period that ended on Dec. 31, 2011 and that its Net Income for those time periods increased from $35.55 million to $60.48 million.
Shares of Select Comfort Corp rose from $0.27 per share in February 2009 to as high as $34.04 per share in April 2012.
Select Comfort Corp. reported that its 13 week Revenue rose from $205.22 million for the 13 week period that ended on June 30, 2012 to $246.82 million for the 13 week period that ended on Sept. 29, 2012 and that its respective 13 week Net Income increased from $16.97 million to $26.21 million.
Shares of Select Comfort Corp. grew from $19.33 per share in late June 2012 to as high as $33.16 per share in early October 2012.
Then on January 24, 2013, after the market closed, Select Comfort Corporation announced its results for the fiscal fourth quarter and full-year ended December 29, 2012.
Shares of Select Comfort Corp. declined from as high as $28.91 per share on January 24, 2013, to $21.42 per share on Jan. 30, 2013.
On Feb. 12, 2013, NASDAQ:SCSS shares closed at $22.19 per share, which is significantly below its current 52 week high of $35.60 per share.
Those who purchased shares of Select Comfort Corp. (NASDAQ:SCSS), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego