Clinton Group continues to invest in Select Comfort

By Lisa Kerner

Charlotte, N.C., May 15 - Investors led by Clinton Group, Inc. bought 787,253 shares of Select Comfort Corp., giving them beneficial ownership of a total of 3,421,447 shares, or 7.6%, of the company.

The shares were acquired between April 4 and May 13 priced from $2.50 to $5.00 each, a schedule 13D filing with the Securities and Exchange Commission reported.

In April, Clinton Group discussed Select Comfort's business with chairman Ervin Shames and chief executive officer William McLaughlin.

Clinton Group said the company is moving in the right direction by focusing on driving sales through new marketing strategies and implementing appropriate cost reductions, a prior SEC filing stated.

Select Comfort is a Minneapolis-based developer, manufacturer and marketer of adjustable-firmness beds and other sleep-related accessory products.

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