Robbins Arroyo LLP Announces that the U.S. Court of Appeals Denies RH's Petition to Appeal Class Certification in
Securities Class Action
Shareholder rights law firm
Robbins Arroyo LLP is investigating whether certain officers and directors of RH (NYSE: RH) breached their fiduciary duties to
shareholders. RH, together with its subsidiaries, operates as a retailer in the home furnishings market.
In an order filed January 24, 2019, the U.S. Court of Appeals for the Ninth Circuit denied RH's petition for permission to
appeal the district court's order granting class action certification. In a hearing on October 1, 2018, the Honorable Yvonne
Gonzalez Rogers of the U.S. District Court for the Northern District of California granted the plaintiffs' motion to certify a
class of investors who acquired RH stock between March 26, 2015 and June 8, 2016. The order is the latest development in a
consolidated class action complaint against RH arising from defendants' misleading statements regarding the launch of RH's new
product line, RH Modern, and the company's inventory levels. The investors claim that RH aggressively marketed its new line with
photo-edited images of products that did not exist, resulting in yearlong delays in delivery and canceled orders from its
customers. When RH disclosed its inventory troubles, the company's stock plunged 75%, erasing more than $3 billion in shareholder
value.
View this information on the law firm's Shareholder Rights Blog:
https://www.robbinsarroyo.com/rh-jan-19/
RH Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid
Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the
shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have invested. The firm offers a stock monitoring service: Stock Watch.
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Leonid Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San Diego, CA 92122
LKandinov@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190130005882/en/