Today, Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”), on behalf of the public shareholders of Restoration Hardware, Inc. (NASDAQ:RSTO), entered into a settlement agreement that will provide the Company's unaffiliated public shareholders with a common fund of $3.7 million, minus attorneys' fees, or almost $0.19 a share, to remedy alleged misconduct by the Restoration Hardware Board in precluding Sears Holdings Co. from making a tender offer to shareholders for $0.05 per share more than the current merger agreement with Catterton Partners.
In addition, Coughlin Stoia secured the defendants' agreement to not oppose the public release of the memorandum in support of plaintiff's motion for preliminary injunction, which contains non-public information about the sales process for the Company. Coughlin Stoia has posted this document on its website (http://www.rgrdlaw.com/pdf/news/articles/rh_memo.pdf), with minimal redactions to protect certain private information.
For more information, contact Randall J. Baron or Stephen J. Oddo of Coughlin Stoia at 800/449-4900 or 619/231-1058.
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