SAN DIEGO, Feb. 13, 2017 /PRNewswire/ -- Shareholder
Rights Law Firm Johnson & Weaver, LLP announces class action lawsuits were filed against RH, Natus Medical Incorporated and
Banc of California, Inc., as detailed below:
RH
Shareholder rights law firm Johnson & Weaver, LLP announces that a shareholder class action lawsuit has been filed against
RH (formerly known as Restoration Hardware) (NYSE: RH) on behalf of purchasers of stock between March 26, 2015 and June 8, 2016, both dates inclusive (the "Class Period"). The
lawsuit seeks to recover damages for of RH investors under the federal securities laws.
The Complaint alleges that throughout the Class Period, Defendants made false and misleading statements, on a 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 announced its financial and operating results for the first quarter of 2016
and significantly reduced its earnings guidance for fiscal year 2016, noting "accommodations largely due to . . . production
delays" in RH's new product line, RH Modern, which the Company had previously touted as "the most important and significant new
home furnishings business to be launched in the last 15 or 20 years." On this news, RH stock dropped 21.24% on June 9, 2016.
If you wish to serve as a lead plaintiff, you must move the Court no later than April 3,
2017.
If you have held RH shares continuously prior to March 26, 2015, you may have standing to hold
RH harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to
assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are an RH shareholder and are interested in learning more about your legal rights and remedies, please contact
Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471. If you email, please include your phone number.
Natus Medical Incorporated
Shareholder Rights Law Firm Johnson & Weaver, LLP announces the filing of a class action lawsuit on behalf of purchasers
of Natus Medical Incorporated (NASDAQ: BABY) between October 16, 2015, through
April 3, 2016, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for
Natus investors under the federal securities laws.
The complaint alleges throughout the Class Period Defendants made materially false and misleading statements, as well as
failed to disclose material adverse facts about Natus' business, operations and prospects, including that: (1) the Venezuelan
government failed to make tens of millions of dollars in prepayments to Natus, which were required to have been paid beginning in
October 2015; (2) Natus had no means to effectively enforce its rights under its supply contract,
as Venezuela was the exclusive forum for dispute resolution; (3) Natus' receipt of revenues
pursuant to the supply contract was contingent on the outcome of Venezuelan elections; and (4) as a result, Natus was not on
track to achieve the increased guidance provided by Defendants, which lacked a reasonable basis. When the factual details were
made known, the lawsuit claims that investors suffered damages.
If you wish to serve as a lead plaintiff, you must move the Court no later than March 31,
2017. If you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please
contact Jim Baker (jimb@johnsonandweaver.com) by email or by phone at 619-814-4471. Your ability to share in any recovery does not
require that you serve as a lead plaintiff.
Banc of California, Inc.
Shareholder Rights Law Firm Johnson & Weaver, LLP announces the filing of a class action lawsuit on behalf of purchasers
of Banc of California, Inc. (NYSE: BANC) between October 29,
2015 and January 20, 2017, both dates inclusive (the "Class Period"). The lawsuit seeks to
recover damages for Banc of California investors under the federal securities laws
The complaint alleges that throughout the Class Period, defendants violated the federal securities laws by disseminating false
and misleading statements to the investing public. As a result of defendants' false statements, Banc's stock traded at
artificially inflated prices during the Class Period, reaching a high of $23.12 per share on
August 8, 2016.
On September 7, 2016, Bloomberg News published an article on Banc highlighting several
related-party transactions, including Banc paying $100 million for the naming rights on
Los Angeles's new soccer stadium for a soccer team whose investors included the brother of
Banc's CEO, "marking the latest in a series of deals involving the CEO's family and associates," and stating that such
"transactions, even when disclosed, should serve as warning signs for investors when deciding whether to buy stock." Within
a week of this article, Banc's stock price fell to below $21 per share. On September 20, 2016, Banc announced that its CFO had resigned after only a year on the job. On this news,
Banc's stock price fell again, declining from $20.51 per share to $17.61 per share within a week.
On October 18, 2016, an article was published by Seeking Alpha that highlighted Banc's
ties to alleged fraudsters. The article stated that Seeking Alpha had "conducted exhaustive due diligence into
[Banc's] leadership team" and had established that Banc's "senior-most officers and board members have a broad mosaic of
extensive and indisputable ties to Jason Galanis." According to Seeking Alpha, "[t]he
mere presence of a bank leadership team associated with Galanis should send diligent investors running for the hills." On
this news, the price of Banc stock fell $4.61 per share, or 29%, on October
18, 2016, to close at $11.26 per share. In response to the Seeking Alpha
article, on October 18, 2016, Banc issued a press release announcing that the Company was aware of
the Seeking Alpha allegations and that the Board of Directors had initiated a "thorough" and "independent" investigation
through "Disinterested Directors."
Then, on January 23, 2017, Banc issued a press release announcing the resignation of its CEO and
Chairman of the Board, Steven A. Sugarman, and revealed that the SEC had opened a formal order of
investigation directed at certain of the issues that Banc's Special Committee was reviewing concerning the Company's response to
the October 18, 2016, Seeking Alpha article in which Banc had mischaracterized the
investigation into Seeking Alpha's allegations. As a result of this news, the price of Banc stock dropped
$1.50 per share to close at $14.65 per share on January 23, 2017, a decline of 9%.
If you wish to serve as a lead plaintiff, you must move the Court no later than March 24,
2017. If you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please
contact Jim Baker (jimb@johnsonandweaver.com) by email or by phone at 619-814-4471. Your ability to share in any recovery does not
require that you serve as a lead plaintiff.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm
represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/johnson--weaver-llp-announces-securities-class-action-lawsuits-against-rh-natus-medical-incorporated-and-banc-of-california-inc-300406114.html
SOURCE Johnson & Weaver, LLP