Nov. 27, 2012 (Shareholders Foundation) -- An investigation on behalf of investors of Zale Corporation (NYSE:ZLC) shares over potential securities laws violations by Zale Corporation and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Zale Corporation (NYSE:ZLC) concerning whether a series of statements by Zale Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Zale Corporation (NYSE:ZLC) reported that its Total Revenue rose from over $1.61 billion for the 12 months period that ended on July 31, 2010 to over $1.86 billion for the 12 months period that ended on July 31, 2012.

Shares of Zale Corporation (NYSE:ZLC) grew from as low as $1.40 per share in July 2010 to as high as $7.16 in October 2012.

Then on November 20, 2012, after the market closed, Zale Corporation (NYSE:ZLC) reported its first quarter Fiscal 2013 results.

NYSE:ZLC shares dropped from $7.44 per share on Nov. 20, 2012, to $5.23 per share on Nov. 21, 2021 and continued to decline to as low as $4.59 per share on November 26, 2012.