The Court-Appointed Lead Plaintiff In The Signet Jewelers Limited Securities Class Action Announces Clarification Of Deadline For Seeking Appointment As Lead Plaintiff

NEW YORK, Jan. 8, 2018 /PRNewswire/ -- Pursuant to an order issued by the United States District Court for the Southern District of New York, the Public Employees' Retirement System of Mississippi ("MissPERS"), which is the Court-appointed Lead Plaintiff in the consolidated securities class action styled In re Signet Jewelers Limited Securities Litigation, No. 1:16-CV-06728-JMF (the "Signet Securities Action") against Signet Jewelers Limited ("Signet" or the "Company") (NYSE: SIG) and certain of its current and former senior officers, publishes this notice to clarify that: (1) on January 7, 2017, the case styled Aydin v. Signet Jewelers Limited, et. al., No. 17-cv-09853 (S.D.N.Y.) ("Aydin") was consolidated into the Signet Securities Action, to proceed under the caption In re Signet Jewelers Limited Securities Litigation, No. 1:16-CV-06728-JMF with MissPERS as the Court-appointed Lead Plaintiff and Bernstein Litowitz Berger & Grossmann LLP as Lead Counsel; and (2) accordingly, any deadline to seek appointment as Lead Plaintiff in Aydin has been vacated. This clarification corrects information previously published by the law firm Glancy Prongay & Murray LLP on December 15, 2017, which advised that the deadline for investors to move for appointment as Lead Plaintiff in Aydin was February 13, 2018 (the "December 15, 2017 Notice").  

The statutory deadline for any motions seeking appointment in the consolidated securities class actions on behalf of investors in Signet securities expired on July 5, 2017. MissPERS was appointed as Lead Plaintiff in the Signet Securities Action on July 27, 2017. Pursuant to the Court's order, any Lead Plaintiff motions filed in response to the December 15, 2017 Notice will be untimely and will not be considered by the Court.

The Signet Securities Action alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, based on alleged misrepresentations and omissions concerning: (1) Signet's credit operations, loan portfolio, and financial condition; and (2) an alleged culture of rampant sexual harassment at the Company. As alleged in the operative complaint, the truth about Signet's loan operation and credit portfolio first began to be revealed on November 24, 2015, when the Company reported surprisingly poor financial results due to deterioration in its credit portfolio. The truth about Signet's culture of sexual harassment was first revealed on February 27, 2017, when The Washington Post published an article detailing the previously-undisclosed contents of hundreds of sworn statements attesting to numerous instances of egregious sexual harassment at the Company. These and further disclosures caused the prices of Signet securities to decline significantly, causing substantial investor losses.

Additional information concerning the pending Signet securities class actions is available on the Signet Securities Action docket cited above. If you wish to discuss this action, you can contact Lead Counsel Bernstein Litowitz Berger & Grossmann LLP using the information provided below.

CONTACT:
John Rizio-Hamilton
Bernstein Litowitz Berger & Grossmann LLP
1251 Avenue of the Americas, 44th Floor
New York, New York 10020
Telephone: (212) 554-1505
E-mail: [email protected]

SOURCE Bernstein Litowitz Berger & Grossmann LLP

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