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Tempur-Pedic comments on NY Attorney General's action
02 Apr '10
2 min read
Tempur-Pedic International Inc. the leading manufacturer, marketer and distributor of premium mattresses and pillows worldwide, confirmed that it has been notified of an action filed against the Company by the New York Attorney General.
As the Company has previously disclosed, the Office of the Attorney General of the State of New York had requested that the Company consider discontinuing its unilateral retail price policy in the State of New York, and informed the Company that it may bring an enforcement action against the Company under New York law if the Company chose not to do so. On March 29, 2010, the Office of the Attorney General filed suit in New York state court against the Company with respect to this matter.
Chief Executive Officer Mark Sarvary commented, "We are disappointed with the New York Attorney General's action earlier this week. It was preceded by a lengthy antitrust investigation in which the Company cooperated fully." In his complaint, the Attorney General does not charge Tempur-Pedic with any violation of state or federal antitrust law; instead he claims the Company violated a 1975 New York state law which declares certain contractual provisions to be unenforceable. Mr. Sarvary added, "We believe the Attorney General's claim that Tempur-Pedic violated state law is simply wrong, and we intend to defend the case vigorously."
As the Company has previously disclosed, the Office of the Attorney General of the State of New York had requested that the Company consider discontinuing its unilateral retail price policy in the State of New York, and informed the Company that it may bring an enforcement action against the Company under New York law if the Company chose not to do so. On March 29, 2010, the Office of the Attorney General filed suit in New York state court against the Company with respect to this matter.
Chief Executive Officer Mark Sarvary commented, "We are disappointed with the New York Attorney General's action earlier this week. It was preceded by a lengthy antitrust investigation in which the Company cooperated fully." In his complaint, the Attorney General does not charge Tempur-Pedic with any violation of state or federal antitrust law; instead he claims the Company violated a 1975 New York state law which declares certain contractual provisions to be unenforceable. Mr. Sarvary added, "We believe the Attorney General's claim that Tempur-Pedic violated state law is simply wrong, and we intend to defend the case vigorously."
Tempur-Pedic International Inc
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