Securities SettlementsSignet Jewelers Ltd. (NYSE:SIG) Shareholder Lawsuit Settlement

Did you purchase Signet Jewelers Ltd. (NYSE:SIG) stock between 01/07/2016 - 06/03/2016? If so, you may be entitled to compensation, Call 1-800-934-2921 or complete the form on this page for a free consultation.
July 28, 2020

Our law firm is filing potential claims on behalf of shareholders of Signet Jewelers Ltd. (NYSE:SIG), stemming from a recent settlement of a shareholder lawsuit against the company.

Did you purchase Signet Jewelers Ltd. (NYSE:SIG) stock between 01/07/2016 – 06/03/2016? If so, you may be entitled to compensation,
Call 1-800-934-2921 or complete the form on this page for a free consultation.

Our law firm is filing claims on behalf of Signet Jewelers Ltd. (NYSE:SIG) shareholders stemming from the recent settlement of the shareholder lawsuit against the company. If you purchased Signet Jewelers Ltd. (NYSE:SIG)  during the class period above, contact our law firm to protect your rights.

National jeweler Signet, Ltd. has just settled with shareholders in a lawsuit they filed against the company in 2008 and 2016. The two-part settlement accused the company of misleading its shareholders about two crucial aspects of its operations. One aspect of the case has to do with sexual harassment at one of its subsidiaries, and the other aspect of the case has to do with the company’s credit portfolio. The plaintiff’s side had quite a few documents that helped them to reach an agreement with the company.

The first part of the lawsuit was against Sterling Jewelers, Inc, and it revolved around the treatment of women in the workplace. The plaintiffs filed the original suit in March of 2008, and they claimed that the company paid male workers more money than it offered the female workers to work there. Additionally, the claim stated that female workers were often denied promotions based on their gender. That particular case did not include traditional sexual harassment allegations. However, the court allowed the plaintiff’s side to enter documents to the case that did involve instances of sexual harassment to fortify their claim.

The second part of the lawsuit came into existence in 2016, and The Public Employees’ Retirement System of Mississippi was the original plaintiff. The parties stated that the company misrepresented its credit and stock portfolio by hiding its losses from the first case. Additionally, the parties accused the company of artificially inflating the prices of its common stock.

Signet initially tried to have the credit portfolio case dismissed, but the judge denied it in November of 2018. The judge denied the dismissal of the sexual harassment portion of the case the following June when Signet once again tried to have the case dropped. Signet maintained its statement of innocence in the matter but was willing to settle to end the long struggle with the two entities.

In the end, Signet agreed to settle the claims with a $240 million payout. The company’s insurance is going to pay most of the debt. It will be responsible for at least $205 million of the settlement, with the company covering the other $35 million. Chief Judge Colleen McMahon still has to approve the settlement, but the outcome looks quite promising. Signet still denies all the allegations and will not formally agree to having guilt of any kind in the matter. However, the company agreed to the settlement because it seemed like a strategic move to eliminate the risks and its ongoing resource needs.

Settlement of Signet Jewelers Ltd. (NYSE:SIG) Shareholder Lawsuit

Signet Jewelers Ltd. (NYSE:SIG) investors may be able to collect significant financial compensation for their losses. The recent settlement with the company has set aside potentially hundreds of millions of dollars for compensating shareholders.

Buy shares of SIG? Signet Jewelers Ltd. (NYSE:SIG) Shareholder Lawsuit Settlement. Contact us to protect your rights.

Did you purchase Signet Jewelers Ltd. (NYSE:SIG) stock between 01/07/2016 – 06/03/2016? If so, you may be entitled to compensation,
Call 1-800-934-2921 or complete the form on this page for a free consultation.