An investigation for investors in RH (NYSE:RH) shares over potential securities laws violations by RH was announced.
San Diego, CA -- (SBWIRE) -- 04/12/2023 -- An investigation on behalf of investors of RH (NYSE: RH) shares over potential securities laws violations by RH in connection with certain financial statements was announced.
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 focuses on possible claims on behalf of purchasers of the securities of RH (NYSE: RH) concerning whether a series of statements by RH regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Restoration Hardware, a.k.a. RH (NYSE: RH), reported that its Total Revenue rose from over $2.84 billion for the 12 months period that ended on January 31, 2021, to over $3.75 billion for the 12 months period that ended on January 31, 2021.
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.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.