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Shareholder Class Action Filed Against Signet Jewelers Limited

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Signet Jewelers Limited (“Signet”) (NYSE: SIG) securities between January 7, 2016, and June 3, 2016, inclusive (the “Class Period”).

Signet investors may receive additional information about the case by clicking the link "Join this Class Action" above.                

According to the complaint, Signet is purportedly the world’s largest retailer of diamond jewelry. The company claims to operate thousands of stores in North America, and some in the United Kingdom, through well-known brand names such as “Kay,” “Jared,” “Zales,” and “Peoples Jewellers.”

The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose: (1) that the company was experiencing difficulty ensuring the safety of customer’s jewelry while in the custody of Signet’s brands; (2) that employees at stores under at least one of Signet’s brands (Kay) were swapping customers’ stones for less valuable stones; (3) that the company was experiencing a drop-off in customer confidence; (4) that the company was facing increasing competitive pressures; (5) that, as result of the foregoing, the company’s financial performance was being negatively impacted; and (6) that, as a result of the foregoing, the defendants’ positive statements about Signet’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

According to the complaint, on May 25, 2016, BuzzFeed News reported on the seemingly wide-spread occurrences of diamond swapping in connection with the company’s Kay stores. Then, on May 26, 2016, the company issued a press release announcing its first quarter fiscal year 2017 financial results. Therein, the company disclosed that its same store sales for the period fell below the company’s previously issued first quarter 2017 guidance. The company also disclosed that it was lowering its fiscal year 2017 same store sales growth guidance.

Following this news, Signet’s stock price fell $11.37 per share, or 10.5%, to close at $97.00 per share on May 26, 2016, on unusually heavy trading volume.

On June 3, 2016, the company issued a press release entitled, wherein the company appeared to confirm the existence of instances of “diamond swapping” at the company’s stores.  Following this news, Signet’s stock price fell $4.04 per share, or 4.3%, to close at $88.19 per share on June 3, 2016.

If you are a member of the class described above, you may no later than October 24, 2016 move the Court to serve as lead plaintiff of the class, if you so choose.


 
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for Signet Jewelers Limited (NYSE: SIG) securities between January 7, 2016, and June 3, 2016, inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Signet Jewelers Limited prior to the class period?
Are you a current or former employee of Signet Jewelers Limited?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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