Casper Sleep Inc. failed to dodge an investor lawsuit that claimed the online sleep product retailer knew its financial prospects were dimmer than promised ahead of its 2020 initial public offering.
Investors adequately alleged that Casper misled them about its capacity for growth and profitability, Judge Margo Brodie in the US District Court for the Eastern District of New York said in a Sept. 30 order refusing to dismiss the case.
Investors’ allegations that Casper made misstatements and omissions about its distribution network will also move forward. The suit said that Casper was touting its manufacturing and distribution relationships as ...
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