SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Signet Jewelers Limited (SIG) and Lead Plaintiff Deadline: February 13, 2018

NEW YORK, Jan. 05, 2018 -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Signet Jewelers Limited (“Signet” or the “Company”) (NYSE:SIG) and certain of its officers, on behalf of shareholders who purchased Signet shares between August 24, 2017, and November 21, 2017, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/sig.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Signet’s efforts to convert IT systems in connection with the credit portfolio transition were negatively impacting sales; (2) the magnitude of in-store process changes related to the new credit program were negatively impacting sales; (3) consequently, Signet was experiencing systems and process disruptions associated with the outsourcing of its credit portfolio; (4) the disruptions were negatively impacting Signet’s performance; and (5) as a result, defendants’ positive statements about Signet’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. 

On November 21, 2017, during Signet’s Q3 2017 conference call, CEO Virginia Drosos revealed that Signet “faced headwinds” from “disruptions in our systems and processes during our credit outsourcing transition” which “impacted our comp sales by sixty basis points.” The CEO continued to explain that the disruptions were caused by the conversion of IT systems and the magnitude of in-store process changes related to the new program. Following this news, Signet stock dropped $23.05, or 30%, to close at $52.79 per share on November 21, 2017.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/sig or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Signet you have until February 13, 2018 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]