An investigation for investors in NYSE:SIG shares over potential securities laws violations by Signet Jewelers Ltd. and certain of its directors and officers was announced.
Investors who purchased shares of Signet Jewelers Ltd. (NYSE:SIG), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on whether a series of statements by Signet Jewelers Ltd. (NYSE:SIG regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Shares of Signet Jewelers Ltd. (NYSE:SIG) grew from $71.43 per share in January 2014 to as high as $150.94 per share in October 2015. Signet Jewelers Ltd. reported that its Total Revenue rose from over $4.2 billion for the 52 weeks period that ended on February 1, 2014 to over $6.55 billion for the 52 weeks period that ended on January 30, 2016 and that its respective Net Income increased from $368 million to $467 million.
On June 2, 2016, a report was issued raising concerns about the extent to which Signet Jewelers Ltd. used its credit operations to boost sales, and also referenced a previously published story on Buzzfeed about customers of the Company’s Kay Jewelers stores complaining that their diamonds had been unknowingly replaced with lesser-quality gems.
Shares of Signet Jewelers Ltd. (NYSE:SIG) declined on June 2, 2016 to as low as $84.80 per share.
On June 13, 2016, NYSE:SIG shares closed at $85.51 per share.
Those who purchased NYSE:SIG shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com