An investigation on behalf of investors in RH (NYSE:RH) shares over potential wrongdoing at RH (NYSE:RH) was announced.
San Diego, CA -- (SBWIRE) -- 08/14/2023 -- An investigation on behalf of investors in shares of RH (NYSE: RH) was announced over potential breaches of fiduciary duties by certain officers and directors at RH a.k.a. Restoration Hardware.
Investors who purchased shares of RH (NYSE: RH) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain RH directors breached their fiduciary duties and caused damage to the company and its shareholders.
On February 3, 2023, after trading hours, RH filed a current report on Form 8-K with the Securities & Exchange Commission ("SEC"), which announced, in pertinent part, that its "previously unaudited financial statements for the three months ended April 30, 2022, the three and six months ended July 30, 2022, and the three and nine months October 29, 2022 should no longer be relied upon due to material unintentional errors in certain of these financial periods with respect to our calculation of basic and diluted net income per share."
Further, RH announced that "in connection with the restatement, we determined that we had at least one material weakness in our internal control over financial reporting during the Non-Reliance Periods that continued to exist at January 28, 2023, the end of fiscal 2022. In connection with the material weakness, we have additionally concluded that our disclosure controls and procedures are also not effective."
Those who purchased shares of RH (NYSE: RH) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
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