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You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of August 28, 2020 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
July 21, 2020 - The court granted final approval of the settlement and entered final judgment.
April 14, 2020 - The court preliminarily approved the settlement.
March 16, 2020 - A stipulation and agreement of settlement was entered by the parties.
November 26, 2018 - The court denied the defendants' motion to dismiss.
March 30, 2018 - A motion to dismiss the fifth amended complaint was filed.
March 22, 2018 - A fifth amended complaint was filed.
March 22, 2018 - The court gave leave to file the fifth amended complaint.
January 7, 2018 - An Order to consolidate cases was ordered.
December 22, 2017 - A second amended complaint was filed.
December 1, 2017 - A motion to dismiss the amended complaint was filed.
September 29, 2017 - An amended complaint was filed.
August 25, 2016 (Shareholders Foundation) - An investor in shares of Signet Jewelers Ltd. (NYSE:SIG) filed a lawsuit in the U.S. District Court for the Southern District of New Yorkover alleged violations of Federal Securities Laws by Signet Jewelers Ltd. in connection with certain allegedly false and misleading statements made between January 7, 2016 and June 3, 2016.
According to the complaint 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.
Shares of Signet Jewelers Ltd. (NYSE:SIG) grew from $71.43 per share in January 2014 to as high as $150.94 per share in October 2015. Signet Jewelers Ltd. reported that its Total Revenue rose from over $4.2 billion for the 52 weeks period that ended on February 1, 2014 to over $6.55 billion for the 52 weeks period that ended on January 30, 2016 and that its respective Net Income increased from $368 million to $467 million.
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.