According to the law firm press release, RH is a leading luxury retailer in the home furnishing marketplace. The Company operates an integrated business with multiple channels of distribution including over 70 retail stores in the United States, source book magazines and websites. In 2015, RH announced a new product line, RH Modern.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) contrary to Defendants’ representations that the Company was prepared for the launch of RH Modern, that inventory was adequate, and that customers would not face shipping delays, in reality, the Company had severely inadequate inventory and was woefully unprepared to launch RH Modern; and (ii) as a result, RH’s public statements were materially false and misleading at all relevant times.
On April 26, 2017, the Court appointed Lead Plaintiff and Counsel.