NEW YORK, NY / ACCESSWIRE / June 26, 2024 / Pomerantz LLP is investigating claims on behalf of investors of RH ("RH" or the "Company") (NYSE:RH). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether RH and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 13, 2024, RH reported its financial results for the first quarter ended May 4, 2024. Among other items, RH reported revenue of $727 million, down 1.7% from the same period in the prior year, and a net loss of $0.20 per share, down from a profit of $1.90 per share for the same period in the prior year. In response to RH's results, Wedbush dropped its price target by 22% and kept its Neutral rating, citing in part RH's overly optimistic guidance.
On this news, RH's stock price fell $47.32 per share, or 17.08%, to close at $229.73 per share on June 14, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP