Casper Sleep Inc. agreed to pay $3 million to settle a proposed shareholder class action alleging it misrepresented its financial prospects before its February 2020 IPO. The agreement, reported in June 2024, is subject to court approval and would also release claims against the IPO underwriters. A court had denied Casper’s motion to dismiss in September 2022.
Sources
https://news.bloomberglaw.com/litigation/casper-sleep-settles-shareholder-lawsuit-over-ipo-for-3-million
Casper Sleep Inc. has agreed to pay $3 million to resolve a proposed shareholder class action alleging the online sleep product retailer made misleading statements about its financial prospects ahead of its 2020 initial public offering.
http://web.archive.org/web/20240608231926/https://www.law360.com/articles/1845695/casper-investors-ink-3m-deal-over-mattress-co-s-woes
By Emilie Ruscoe (June 7, 2024, 10:29 PM EDT) -- Investors in mattress company Casper Sleep Inc. have asked a Brooklyn federal judge for an initial nod for their $3 million deal that would end claims the company misrepresented its financial prospects in the lead-up to its February 2020 initial public offering....