SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Arhaus, Inc. Investors.

NEW YORK, May 16, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in Arhaus, Inc. (“Arhaus” or the “Company”) (NASDAQ: ARHS). Such investors are advised to get in touch Danielle Peyton at (email protected) or 646-581-9980, extension 7980.

The investigation concerns whether Arhaus and certain of its officers and/or directors engaged in securities transactions Fraud or other unlawful business practices.

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On or near November 4, 2021Arhaus conducted its initial public offering (“IPO”), selling 12.9 million shares at a price of $13.00 per share.

Then further April 29, 2024Arhaus issued a press release stating that “the Company’s previously issued unaudited condensed consolidated financial statements are included in Amendment No. 1 to the Company’s Quarterly Report on Form 10-Q/A for the ended period.” September 30, 2023 (the “Q3 Form 10-Q/A” and such period, the “Affected Period”) filed with the US Securities and Exchange Commission (the “SEC”) on March 11, 2024, should no longer be considered reliable due to the errors described below and should be reformulated. Arhaus stated that it had “identified errors in the unaudited condensed consolidated balance sheets.” September 30, 2023 related to certain cash receipts from landlord refunds prior to showroom completion that were incorrectly included in property, plant and equipment, furniture and equipment, net” and that “the errors also resulted in inaccurate cash flows allocated to operating and investing activities in the unaudited condensed consolidated financial statements of the cash flows for the past nine months 30. September2023.” Accordingly, Arhaus “estimates that the impact of the errors will result in an increase in net cash flow from operating activities and an increase in net cash flow from investing activities in the order of approx 1 million dollars To 5 million dollars in the unaudited condensed consolidated statement of cash flows for the past nine months 30. September, 2023.” Arhaus also announced that it “will adjust its annual financial statements for the affected period.” . . As soon as possible.”

Due to this news, Arhaus’s share price fell $0.80 per share or 5.94% to close $12.66 per share to April 30, 2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel Aviv, is considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the deceased Abraham L. PomerantzPomerantz, known as the dean of the class action bar, pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of securities victims FraudBreach of fiduciary duty and corporate misconduct. The law firm has won billions of dollars in damages on behalf of class plaintiffs. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
(email protected)
646-581-9980 ext 7980

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