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SAN FRANCISCO, Feb. 17, 2017 -- Hagens Berman Sobol Shapiro LLP alerts investors in RH, Inc. (NYSE:RH) to the securities class action lawsuit filed in the U.S. District Court for the Northern District of California and to the April 3, 2017 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of RH between March 26, 2015 and June 8, 2016 (the “Class Period”) and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/RH
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
The complaint alleges that during the Class Period, RH reported false and misleading earnings forecasts based on its new product line, RH Modern. The complaint further alleges that RH misrepresented and concealed problems surrounding the launch of RH Modern, including inventory shortages, shipping delays, and poor construction quality.
On June 8, 2016, RH released its first quarter 2016 financial results. Chairman and CEO Gary Friedman noted that the results were impacted partly by “the costs associated with RH Modern production delays and investments to elevate the customer experience…” Upon this news, shares of RH fell from a close of $36.07 per share on June 8, 2016, to a close of $28.41 per share the following day.
“Among other things, we’re concerned about RH’s apparent dependence on RH Modern for its future growth and statements to investors concerning RH’s supply chain and systems infrastructure,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding RH should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
