Investors who lost money with shares of Arhaus, Inc. (NASDAQ: ARHS) should contact the Shareholders Foundation

An investigation was announced for investors of Arhaus, Inc. (NASDAQ: ARHS) shares over potential securities laws violations by Arhaus, Inc.

Investors who purchased shares of Arhaus, Inc. (NASDAQ: ARHS), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Arhaus, Inc. (NASDAQ: ARHS) concerning whether a series of statements by Arhaus, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Boston Heights, OH based Arhaus, Inc. operates as a lifestyle brand and premium retailer in the home furnishings market in the United States. Arhaus, Inc. reported that its annual Total Revenue rose from over $1.22 billion in 2022 to over $1.28 billion in 2023, and that its Net Income declined from $136.63 million in 2022 to $125.23 million in 2023.

On April 29, 2024, after market hours, Arhaus, Inc. filed a Current Report on Form 8-K with the Securities and Exchange Commission ("SEC") announcing "the Company's previously issued unaudited condensed consolidated financial statements included in Amendment No. 1 to the Company's Quarterly Report on Form 10-Q/A for the period ended September 30, 2023 (the 'Q3 Form 10-Q/A' and such period, the 'Affected Period'), filed with the [] SEC on March 11, 2024, should no longer be relied upon due to the errors described below and should be restated." In addition, Arhaus stated it had "identified errors within the unaudited condensed consolidated balance sheet as of September 30, 2023 related to certain cash receipts from landlord reimbursements prior to showroom completion being incorrectly included in property, furniture and equipment, net. The errors also resulted in inaccurate cash flows ascribed to operating and investing activities in the unaudited condensed consolidated statement of cash flows for the nine months ended September 30, 2023. The Company currently estimates that the impact of the errors will result in an increase in net cash provided by operating activities and an increase in net cash used in investing activities in the range of approximately $1 million to $5 million in the unaudited condensed consolidated statement of cash flows for the nine months ended September 30, 2023."

Shares of Arhaus, Inc. (NASDAQ: ARHS) declined from $16.60 per share on April 09, 2024, to as low as $12.51 per share on May 01, 2024.

Those who purchased shares of Arhaus, Inc. (NASDAQ: ARHS) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.