An investor in NYSE:SIG shares filed a lawsuit over alleged violations of Federal Securities Laws by Signet Jewelers Ltd. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Signet Jewelers Ltd. (NYSE:SIG) have certain options and for certain investors are short and strict deadlines running. Deadline: October 24, 2016. NYSE:SIG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of Signet Jewelers Ltd. (NYSE:SIG) common shares between January 7, 2016 and June 3, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between January 7, 2016 and June 3, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that the Company was experiencing difficulty ensuring the safety of customers’ jewelry while in the custody of Signet’s brands, that employees at stores under at least one of Signet’s brands (Kay) were swapping customers’ stones for less valuable stones, that the Company was experiencing a drop-off in customer confidence, that the Company was facing increasing competitive pressures, that, as result of the foregoing, the Company’s financial performance was being negatively impacted, and that, as a result of the foregoing, Defendants’ positive statements about Signet’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On June 2, 2016, a report was issued raising concerns about the extent to which Signet Jewelers Ltd. used its credit operations to boost sales, and also referenced a previously published story on Buzzfeed about customers of the Company’s Kay Jewelers stores complaining that their diamonds had been unknowingly replaced with lesser-quality gems. Shares of Signet Jewelers Ltd. (NYSE:SIG) declined on June 2, 2016 to as low as $84.80 per share.
Those who purchased NYSE:SIG shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com