SAN DIEGO, June 12, 2016 /PRNewswire/ -- Johnson & Weaver, LLP has commenced an investigation concerning whether Mattress Firm Holding Corp. (NASDAQ: MFRM) violated federal securities laws. Mattress Firm operates as a specialty retailer of mattresses and related products and accessories in the United States.
On June 9, 2016, Mattress Firm announced its financial results for the first fiscal quarter ended May 3, 2016. Mattress Firm also cut its annual forecast to $2.25 to $2.35 per share and announced it would incur an impairment charge of $138.7 million for the quarter stemming from a decision to rebrand all of its stores under the Mattress Firm name. Following this news, shares of Mattress Firm closed down over 12% on June 10, 2016.
This disclosure preceded a March 21, 2016 announcement when Mattress Firm reported disappointing fourth quarter earnings of $0.53 per share and provided full year guidance of $2.50 to $2.60 per share. Adding to the disappointing results, Mattress Firm announced that President Ken Murphy would replace CEO Steve Stagner.
If you are a Mattress Firm shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonandweaver.com) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP
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