Restoration Hardware's Stock Climbs

CORTE MADERA, CA - Restoration Hardware, a furniture and decorative hardware manufacturer, saw its stock prices climb after setting a price for its initial public offering (IPO), according to the Boston Herald.

The initial price of $24 per share based on an offering of 5 million shares of its common stock reached $33 a share on the opening day of the IPO, according to the paper.

Restoration Hardware, with 87 retail stores and 10 outlet stores throughout North America, was recently sued in a Northern California District Court by chair manufacturer Emeco Industries, Inc. for infringing on a trademarked furniture design.