Bermuda-incorporated Signet Jewelers Ltd named as Defendant to US securities class action

Reuters has reported that Signet Jewelers Ltd has been hit with a securities fraud class action lawsuit, accusing the retailer of failing to disclose facts regarding sexual harassment allegations against executives at its Sterling Jewelers unit, court documents showed.

The lawsuit, filed on 28 March 2017 in Dallas Federal Court by Irving Firemen’s Relief & Retirement Fund, claimed the fund suffered economic loss as a result of violations of the securities laws by Signet. The lawsuit accused the company of disseminating false or misleading statements to the public about the true nature and severity of the allegations made by former employees.

The case is in the U.S. District Court for the Northern District of Texas, Dallas division, Case No: 3:17-cv-00875-D.

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