Clinton Group increases stake in Select Comfort to 9.84%

By Lisa Kerner

Charlotte, N.C., July 1 - Investors led by the Clinton Group bought 946,091 additional shares of Select Comfort Corp., upping their ownership to 9.84%, or about 4.41 million shares.

The shares were acquired between June 23 and June 27 priced from $0.15 to $2.43 each, it was reported in a schedule 13D filed with the Securities and Exchange Commission.

In June, Clinton Group suggested that Select Comfort replace its chief executive officer and revise its marketing strategy, a prior SEC filing said.

In addition, the investor, with a 7.52% stake in the company at the time, expressed disappointment that Select Comfort did not agree to provide the Clinton Group with board representation.

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

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