The Shuman Law Firm Investigates RH
October 18, 2018
DENVER–(BUSINESS WIRE)–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 kip@shumanlawfirm.com
or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
Contacts
The Shuman Law Firm
Kip B. Shuman, Esq., 866-569-4531
kip@shumanlawfirm.com
or
Rusty
E. Glenn, Esq., 866-569-4531
rusty@shumanlawfirm.com
or
Fax:
303-536-7849
www.shumanlawfirm.com