The Shuman Law Firm Investigates RH
DENVER, CO October 18, 2018 – The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of RH (“RH” or the “Company”) (NYSE: RH). RH primarily operates as a retailer of home furnishings.
In 2017, an investor class action complaint was filed against the Company in federal court on behalf of certain purchasers of RH’s common stock. Among other things, the shareholder complaint alleges that RH and certain of the Company’s senior executive officers violated the federal securities laws by making a series of materially false and misleading statements to investors concerning the Company’s launch of RH Modern, and the company’s inventory levels. The investors claim that RH aggressively marketed its new line with photo-edited images of products that did not exist, resulting in yearlong delays in delivery and canceled orders from its customers. When RH disclosed its inventory troubles, the company’s stock plunged 75%, erasing more than $3 billion in shareholder value.
In February 2018, the federal court presiding over the litigation denied defendants’ motion to dismiss the class action complaint. Recently, on October 11, 2018, the plaintiffs overcame an important procedural hurdle when federal court presiding granted the plaintiff’s motion to certify the class action. The class consists of those who purchased or otherwise acquired the common stock of RH during the period from March 26, 2015 through June 8, 2016, inclusive.
If you currently own RH common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at email@example.com or Mr. Glenn at firstname.lastname@example.org.