BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased RH (“RH” or the “Company”) (NYSE: RH) securities between March 26, 2016 and June 8, 2016, inclusive (the “Class Period”). RH investors have until April 3, 2017 to file a lead plaintiff motion.
Investors suffering losses on their RH investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
RH, together with its subsidiaries, engages in the retail of home furnishings. It offers products in various categories, such as furniture, lighting, textiles, bath ware, décor, outdoor and garden, tableware and child and teen furnishings.
The Complaint filed in this lawsuit 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 disclosed disappointing first quarter 2016 financial results. According to CEO Gary Friedman, the results were in part due to the costs connected with “RH Modern production delays and investments to elevate the customer experience.”
On this news, shares of RH fell harshly from a close of $36.07 per share on June 8, 2016, to just $28.41 per share the following day.
If you purchased shares of RH during the Class Period you may move the Court no later than April 3, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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