NEW YORK, April 06, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action has been commenced in the United States District Court for the Northern District of Texas on behalf of purchasers of Signet Jewelers Limited ("Signet") (NYSE:SIG) common stock during the period between August 29, 2013 and February 27, 2017 (the "Class Period"), inclusive.
Investors who have incurred losses in Signet Jewelers Limited shares are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have purchased Signet Jewelers Limited shares and would like to assist with the litigation process, you may, no later than May 30, 2017, request that the Court appoint you lead plaintiff of the proposed class.
The filed complaint alleges that during the Class Period, defendants issued false and misleading statements and/or failed to disclose adverse information regarding Signet's business and prospects, including that alleged sexual harassment by employees of Signet's Sterling Family of Jewelers division ("Sterling"), including numerous incidents of sexual assault and rape, which were detailed in approximately 249 declarations signed under penalty of perjury by current and former Sterling employees (the "Declarations"), made it unlikely that Signet would be able to avoid paying a sizable amount of damages in connection with a class action lawsuit filed by Sterling employees.
As a result of this information being withheld from the market, the Company's stock traded at artificially inflated prices during the Class Period, reaching a high of $150.94 per share.
On February 26, 2017, the public gained access to the Declarations, spanning over 1,300 pages of sworn testimony, which painted a picture of a Company in which sexual harassment, including sexual assault, was not just tolerated but modeled at Company functions by top executives, including the Company's Chief Executive Officer, defendant Mark S. Light ("Light"). The Declarations were submitted in a private arbitration against Sterling in June 2013, but remained under seal until February 26, 2017. On February 27, 2017, after the markets closed, The Washington Post published a report (the "Report") that revealed widespread allegations of sexual harassment made in the private arbitration that implicated Sterling's senior managers and executives, including defendant Light and other Company officials.
As a result of the news revealed in the Report, the price of Signet common stock suffered its biggest one-day drop in eight years, falling $9.29 per share to close at $63.59 per share on February 28, 2017, a one-day decline of nearly 13% and a 58% decline from the stock's Class Period high.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
## Follow the firm and learn about newly filed cases on Twitter and Facebook. ##
Attorney Advertising. Prior results do not guarantee or predict a similar outcome.