November 30, 2012 - The U.S. Court of Appeals for the Fifth Circuit ordered the judgment of the district court is affirmed and the case is dismissed.
September 29, 2011 - The lead plaintiff filed a notice of appeal.

August 31, 2011 - The judge denied the plaintiff's motion to alter or amend the judgment.

August 30, 2011 - The lead plaintiff filed a motion to alter or amend the judgment.

August 1, 2011 - The court dismissed the lawsuit with prejudice.

May 23, 2011 - The plaintiff filed another amended consolidated complaint.

April 7, 2011 - The court granted the defendants' motion to dismiss with leave to amend the complaint.

October 8, 2010 - Defendants filed a motion to dismiss.

August 9, 2010 - The lead plaintiff filed an amended consolidated complaint.

June 10, 2010 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

March 5, 2010 - A lead plaintiff motion was filed.

November 9, 2009 - An investor in shares of Zale Corporation (NYSE: ZLC) filed a lawsuit in the U.S. District Court for the Northern District of Texas on behalf of those who purchased the securities of Zale Corporation (NYSE: ZLC) between November 16, 2006 and October 29, 2009, over alleged violations of Federal Securities Laws by Zale Corporation and others.

According to the complaint the plaintiff alleges that Zale Corporation and certain of its officers and directors violated federal securities laws. The Complaint alleges that defendants knew or recklessly disregarded that their public statements concerning Zale Corporation’s business, operations and prospects were materially false and misleading. Specifically, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose material facts. On October 29, 2009, Zale Corporation filed its Annual Report with the United States Securities and Exchange Commission for the fiscal year ended July 31, 2009, containing restated financial information for fiscal 2008, 2009, and prior periods, to reflect certain accounting adjustments for advertising costs, intercompany accounts receivable, depository bank accounts, federal income taxes, and personal property taxes. Therein, Zale Corporation further disclosed that the SEC is investigating the accounting issues that led to the 2008 and 2009 restatements. As a result of this news, so the lawsuit, shares of Zale Corporation (NYSE: ZLC) declined $1.66 per share, or nearly 26%, to close on October 30, 2009, at $4.73 per share, on unusually heavy trading volume.

Zale Corporation, located in Irving, Texas, is a specialty retailer of fine jewelry in North America. At July 31, 2008, the Company operated 1,396 specialty retail jewelry stores and 739 kiosks located mainly in shopping malls throughout the United States, Canada and Puerto Rico. Zale Corporation reported on July 31, 2007 a past 12month Total Revenue of $2.15278billion, on July 31, 2008 a past 12 month Total Revenue of $2.13804billion, and on July 31, 2009 a past 12 month Total Revenue of $1.77974billion. Shares of Zale Corporation traded recently at $4.73 per share, down from its 52weekHigh of $17.75 per share, $30.89 per share in 2008, and $29.82 per share in 2007.