Press Release

Morgan Lewis Wins Dismissal of Billion Dollar Securities Class Action for TempurPedic Sealy

Friday, June 5, 2015

BOSTON, June 5, 2015: Morgan Lewis secured the dismissal of a billion dollar securities fraud class action lawsuit filed against Tempur-Sealy International, Inc., and its senior management on Thursday.

Led by partners Jordan Hershman, leader of the firm's Securities Litigation Practice, and Jason Frank, a Morgan Lewis team persuaded the U.S. Court of Appeals for the Sixth Circuit to affirm the grant of the leading mattress manufacturer’s motion to dismiss the class action. The U.S. District Court for the Eastern District of Kentucky granted the firm’s motion to dismiss all claims asserted against all defendants, and it denied plaintiffs’ motion for leave to amend their complaint. In affirming that ruling, the Sixth Circuit Court of Appeals adopted wholesale the legal arguments that the Morgan Lewis team advanced in its briefing and that Jordan Hershman stressed at oral argument before the appellate panel.

"We are gratified with the Court's ruling dismissing this case at the outset, as it should never have been filed at all," said Mr. Hershman.

Morgan Lewis associates William Harb, Jeff Goldman, Emily Renshaw, Nathaniel Bruhn and Liza Hays provided critical support on the matter. This is the second time that this same litigation team obtained the dismissal of high stakes litigation for TempurPedic.