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IMPORTANT SIGNET JEWELERS LIMITED INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors…

Lead Plaintiff Deadline is February 13, 2018

NEW YORK, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of persons and entities that acquired Signet Jewelers Limited (“Signet” or the “Company”) (NYSE:SIG) securities between August 24, 2017, and November 21, 2017, inclusive (the “Class Period”).

Investors who have incurred losses in Signet Jewelers Limited 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 incurred losses in the shares of Signet Jewelers Limited and would like to assist with the litigation process as a lead plaintiff, you may, no later than February 13, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Signet Jewelers Limited.

The filed complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose:

  • that the Company’s efforts to convert IT systems in connection with the credit portfolio transition were negatively impacting sales;
     
  • that the magnitude of in-store process changes related to the new credit program were negatively impacting sales;
     
  • that, as such, the Company was experiencing systems and process disruptions associated with the outsourcing of its credit portfolio;
     
  • that the disruptions were negatively impacting the Company’s performance; and

  • that as a result of the foregoing, Defendants’ positive statements about Signet’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On November 21, 2017, Signet issued a press release disclosing that its Q3 2017 same store sales were down five percent, in part due to “systems and process disruptions associated with outsourcing of the credit portfolio.”

On a conference call held the same day, Defendant Virginia C. Drosos (“Drosos”), Signet’s Chief Executive Officer (“CEO”) stated that “disruptions in our systems and processes during our credit outsourcing transition . . . impacted our comp sales by sixty basis points.” Drosos further stated that the disruptions were “primarily related to the conversion of IT systems and the magnitude of in-store process changes related to the new program.”

On this news, Signet’s share price fell $23.05 per share, or 30.4%, to close at $52.79 per share on November 21, 2017, leading to shareholders’ losses of over $1.4 billion in a single day!

Wolf Haldenstein Adler Freeman & Herz  LLP 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.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.comkcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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