Coughlin Stoia Geller Rudman & Robbins LLP Announces Hearing on Shareholder Effort to Enjoin Restoration Hardware Proposed Acquisition.
SAN DIEGO -- Marin County Superior Court Judge Lynn O'Malley
Taylor has ordered that a hearing be held June 11, 2008 on the effort of
shareholders to enjoin the proposed acquisition of Restoration Hardware,
Inc. (NASDAQ:RSTO) by an investment group led by CEO Gary Friedman and
Catterton Partners. The action alleges breach of fiduciary duty in
connection with the decision of the Restoration Hardware board to sell
the Company to Friedman and Catterton for $4.50 per share. Sears
Holdings had previously indicated it was willing to pay a higher price
per share to acquire Restoration Hardware. Shareholders will be asking
the Court to enjoin certain contractual provisions that preclude Sears
Holdings from taking its proposal directly to Restoration
Hardware's shareholders. Plaintiffs are represented by the law
firms of Coughlin Stoia Geller Rudman & Robbins LLP and The Weiser
Law Firm. For more information, contact Randall J. Baron or Stephen J.
Oddo of Coughlin Stoia at 800/449-4900 or 619/231-1058.