Casper Sleep $3,000,000 Securities Litigation Settlement

If you purchased or otherwise acquired Casper common stock pursuant or traceable to the company’s February 7, 2020 initial public offering, and/or during the period from March 19, 2020, through May 12, 2020, you may be eligible to claim an award from a class action settlement.

Casper Sleep, Inc. has agreed to pay $3,000,000 to settle a class action lawsuit for allegedly misleading investors about the company’s profitability, profit trends, and distribution network.

Who can submit a claim?

The class consists of all persons and entities that purchased or otherwise acquired Casper common stock pursuant or traceable to the company’s February 7, 2020 initial public offering, and/or during the period from March 19, 2020, through May 12, 2020, both dates inclusive.

This includes those who bought Casper common stock within this timeframe and still hold the stock or sold it afterward.

How much can class members get?

The estimated average recovery per share could be $0.35 before deduction of any fees, expenses, costs, and awards. The actual amount disbursed to members of the class who participate in the settlement may be more or less than this figure.

The amount awarded to class members depends on when Casper common stock was purchased and how long it was held:

• Purchased between February 7, 2020, and March 18, 2020, and sold on or before June 18, 2020: The recognized loss per share is the lesser of $12 minus the sale price or the purchase price minus the sale price.
• Purchased between February 7, 2020, and March 18, 2020, and held through at least June 19, 2020: The recognized loss per share is the lesser of $12 minus the greater of the sale price or $8.78, or the purchase price minus the sale price.
• Purchased between March 19, 2020, and May 11, 2020, and sold on or before May 11, 2020: The recognized loss per share is the lesser of $12 minus the sale price or the purchase price minus the sale price.
• Purchased between March 19, 2020, and May 11, 2020, and held or sold between May 12, 2020, and June 19, 2020, or held through at least June 19, 2020: The recognized loss per share is the greater of the lesser of $12 minus the sale price or $12 minus the greater of the sale price or $8.78, or the purchase price minus the sale price, and the lesser of $1.53 per share or the purchase price minus the “90-day lookback value” on the date of sale.
• Purchased on or after May 12, 2020, and before June 19, 2020: The recognized loss per share is the lesser of $12 minus the sale price or the purchase price minus the sale price.

Is proof required to submit a claim?

Yes, claimants need to proactively provide proof they are class members. This includes photocopies of the stockbroker’s confirmation slips, stockbroker’s statements, or other documents evidencing each acquisition and sale of Casper common stock listed in the claim form.

How to claim an award

To claim an award, you must complete and submit a Proof of Claim and Release Form. You can file a claim online by visiting the online claim form or by mailing the completed form to the Claims Administrator at:

Lematta v. Casper Sleep, Inc., et al.

c/o Strategic Claims Services

P.O. Box 230

600 N. Jackson Street, Suite 205

Media, PA 19063

The deadline to submit your claim is October 16, 2024. Ensure that all required documentation is attached to your claim form.

How do class members get paid?

Once your claim is approved, you will receive your payment via check or direct deposit, depending on the options provided by the Claims Administrator.

$3,000,000 Settlement Fund

The settlement fund of $3,000,000 will cover various costs and awards. This includes attorneys’ fees, reimbursement of litigation expenses, and compensatory awards to the lead plaintiff.

• Attorneys’ fees: Not to exceed 33 1/3% of the settlement amount.
• Reimbursement of expenses: Not to exceed $280,000.
• Compensatory award to Plaintiff: Not to exceed $15,000.
• Notice and administration costs: Up to $250,000 without further approval.

Important dates

• Deadline to File a Claim: October 16, 2024
• Exclusion Deadline: October 25, 2024
• Settlement Hearing: November 15, 2024, at 10:00 a.m.

When is the Casper Sleep Settlement payout date?

The awards will be paid after the court grants final approval of the settlement and all claims have been processed.

What happens next?

Class members should submit their claims by the deadline. The court will hold a settlement hearing to determine the fairness of the settlement. If approved, payments will be distributed to eligible claimants.