Investigation of Signet Jewelers Limited Announced by Law Offices of Howard G. Smith
BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of investors of Signet Jewelers Limited (“Signet” or the “Company”) (NYSE: SIG) concerning the Company and its officers’ possible violations of federal securities laws.
Signet engages in the retail sale of diamond jewelry and watches in the United States, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland and the Channel Islands.
On May 25, 2016, Buzzfeed News issued a story claiming that certain customers of Kay Jewelers have had their diamonds unwittingly replaced with lesser-quality gems. On this news shares of Signet fell $11.37 per share, or nearly 11%, to close on March 26, 2016 at $97.00.
Then on June 2, 2016, James Grant’s investment newsletter released a report raising concerns about the extent to which Signet used its credit operations to boost sales.
Following this news, shares of Signet fell $6.50 per share, over 6%, to close on June 2, 2016 at $92.23 per share.
If you purchased Signet securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website athttp://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Signet Jewelers Ltd. (Ratner Group 1949-1993 then Signet Group plc to September 2008) is the world’s largest retailer of diamond jewelry. The Hamilton, Bermuda-domiciled, Akron, OH-headquartered company is listed on both the New York Stock Exchange and the London Stock Exchange. The group operates in the middle market jewelry segment and has number one positions in the U.S., Canada and UK specialty jewelry markets. Certain brands (Jared in the U.S. and Ernest Jones/Leslie Davis in the UK) operate in the upper middle market.