Law offices of Howard G. Smith announce an investigation on behalf of investors of Signet Jewelers Limited concerning the company and its officers’ possible violations of federal securities laws. Signet engages in the retail sale of diamond jewelry and watches in the United States, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland and the Channel Islands.
On May 25, 2016, Buzzfeed News issued a story claiming that certain customers of Kay Jewelers have had their diamonds unwittingly replaced with lesser-quality gems. On this news shares of Signet fell $11.37 per share, or nearly 11%, to close on March 26, 2016 at $97.00.
Then on June 2, 2016, James Grant's investment newsletter released a report raising concerns about the extent to which Signet used its credit operations to boost sales. Following this news, shares of Signet fell $6.50 per share, over 6%, to close on June 2, 2016 at $92.23 per share.
If you purchased Signet securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, contact the Law offices.