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‘Something Smells’ At Tempur Sealy, Investor Tells Chancery, Law360

November 08, 2018

Morgan Lewis partner Jordy Hershman’s arguments on behalf of firm client Tempur Sealy were highlighted in a Law360 article regarding a Section 220 action filed on behalf of a shareholder of the mattress maker to investigate the termination of a 2017 contract between Tempur Sealy and Mattress Firm.

On November 8, Hershman told a Delaware Chancery judge that repeated demands from the shareholder to produce documentation are “an attempt to investigate a business decision with which plaintiff may not agree.” He added that there is no evidence “submitted by the plaintiff that is contrary to this evidence submitted in plaintiff’s own complaint,” and that even in 220 actions “you need more than a divergence between forward-looking statements and eventual results.”

Read the full Law360 article >>