SAN FRANCISCO (Legal Newsline) — Government and labor groups are suing a California retailer, alleging violation of federal law.
The city of Miami General Employees' & Sanitation Employees' Retirement Trust filed a class action complaint, individually and on behalf of all others similarly situated on Feb. 2, in the U.S. District Court for the Northern District of California against RH, Inc., of Corte Madera, California, Gary Friedman, Karen Boone, alleging that they issued false statements in order to deceive investors into purchasing securities.
According to the complaint, the plaintiffs sustained monetary damages from being misled into purchasing securities because the defendants misrepresented that the company was ready to launch its product despite it not being fully in stock, which caused a decline of its market share.
The plaintiffs seek trial by jury, all damages, court costs and all further relief the court grants. They are represented by attorneys Blair A. Nicholas of Bernstein Litowitz Berger & Grossmann LLP in San Diego, and by Gerald H. Silk and Avi Josefson of Bernstein Litowitz Berger & Grossmann in New York.
U.S. District Court for the Northern District of California Case number 4:17-cv-00554-YGR