The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. RH, the holding company behind retailer Restoration Hardware, announced on February 3, 2023, that "our previously unaudited financial statements for the three months ended April 30, 2022, the three and six months ended July 30, 2022, and the three and nine months October 29, 2022 (collectively the 'Prior Financial Statements') should no longer be relied upon due to material unintentional errors in certain of these financial periods with respect to our calculation of basic and diluted net income per share." Based on this news, shares of RH fell by more than 7.3% in intraday trading on February 6, 2023.
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