NEW YORK, April 12, 2017 /PRNewswire/ -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national shareholder and consumer rights litigation firm, announces that a securities class action lawsuit has been filed against Signet Jewelers, Ltd. ("Signet" or the "Company") (NYSE: SIG) on behalf of purchasers of Signet common stock during the period between August 29, 2013 and February 27, 2017. If you are a Signet shareholder, you are encouraged to contact Scott+Scott for more information.
Signet Jewelers Limited is a retailer of diamond jewelry and includes the Sterling Jewelers division (including Kay Jewelers and Jared), the Zale division (which consists of Zale Jewelry and Piercing Pagoda), and others.
The lawsuit alleges that Signet failed to disclose adverse information regarding Signet's business and prospects, including that alleged sexual harassment by employees of the Sterling division made it unlikely that Signet would be able to avoid paying a sizable amount of damages in connection with a class action lawsuit filed by Sterling employees.
On February 26, 2017, the public gained access to approximately 249 declarations signed under penalty of perjury that painted a picture of a Company in which sexual harassment, including sexual assault, was not just tolerated but modeled by top executives. On February 27, 2017, after the markets closed, The Washington Post published a report about the declarations that implicated Sterling's senior managers and executives including Chief Executive Officer, Mark S. Light.
As a result of the news revealed in The Washington Post report, the price of Signet common stock plummeted $9.29 per share to close at $63.59 on February 28, 2017, a one-day decline of nearly 13%.
What You Can Do
If you purchased or acquired shares of Signet between August 29, 2013 and February 27, 2017 and you wish to discuss this lawsuit, or have questions about this notice or your legal rights, please contact attorney Rhiana Swartz toll free at (844) 818-6980 or at firstname.lastname@example.org. Shareholders have until May 30, 2017 to petition the court for lead plaintiff status.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
Scott+Scott, Attorneys at Law, LLP
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SOURCE Scott+Scott, Attorneys at Law, LLP