IMPORTANT SIGNET JEWELERS LIMITED SHAREHOLDER ALERT: Wolf Haldenstein Adler Freeman & Herz LLP Announces that a Securities Class Action Lawsuit has been Filed on Behalf of Shareholders of Signet Jewelers Limited
Lead Plaintiff Deadline is October 24, 2016
NEW YORK, NY / ACCESSWIRE / August 31, 2016 / Wolf
Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Signet Jewelers Limited (NYSE: SIG) (“Signet”) with a class period of January 7, 2016 through June 3, 2016, inclusive (the “Class Period”).
Shareholders who have incurred losses in Signet Jewelers Limited securities are urged to contact the firm
immediately at email@example.com or
(800) 575-0735 or (212) 545-4774. You may also review the filed complaint and obtain additional information concerning the action on our website, www.whafh.com.
If you purchased shares of Signet Jewelers Limited you may, no later than October 24, 2016, request that the Court appoint you lead plaintiff of the proposed class.
According to the filed complaint, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that (1) Signet was experiencing difficulty ensuring the safety of customers’ jewelry while in the custody of Signet’s brands; (2) Signet’s employees at stores under at least one of Signet’s brands (Kay) were swapping customers’ stones for less valuable stones; (3) Signet was experiencing a decrease in customer confidence; (4) Signet had increasing competitive pressures; (5) consequently, Signet’s financial performance was being negatively impacted; and (6) as a result, defendants’ statements about Signet’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis..
On June 2, 2016, James Grant’s investment newsletter issued a report raising these concerns about the extent to which Signet used its credit operations to boost sales, and also referenced the previously published story on Buzzfeed about customers complaining that their diamonds had been unknowingly replaced with lesser-quality gems by Signet’s Kay Jewelers stores.
On this news, Signet stock fell as much as $13.93, or 14.11%, to a low of $84.80 during intraday trading on June 2, 2016, closing at $88.19 for the day’s trading.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at firstname.lastname@example.org, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: email@example.com, firstname.lastname@example.org or email@example.com
Tel: (800) 575-0735 or (212) 545-4774
SOURCE: Wolf Haldenstein Adler Freeman & Herz LLP