RH
02/07/2023
The law firm of Kirby McInerney LLP is investigating potential claims against RH (“RH” or the “Company”) (NYSE: RH). The investigation concerns whether RH and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
RH distributes home furnishing products.
On February 6, 2023, RH announced that it expects 2022 revenue growth at the lower end of the prior range of 3.5% to 4.5%. RH also disclosed that its annual report for the fiscal year ended January 29, 2022 and quarterly report for the fiscal quarter ended October 29, 2022 contained errors in the calculation of net income per share, and that the Company’s financial statements for each of the quarterly periods ended April 30, July 30, and October 29, 2022 should no longer be relied upon. On this news, the price of RH shares declined by $25.19 per share, or approximately 7.33%, from $343.62 per share to close at $318.43 on February 6, 2023.