Update on the Distribution of Net Settlement Funds
The Court has approved the distribution of the net settlement funds to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following date/s:
March 4, 2022
Subsequent distributions will occur on a rolling basis.
If you submitted a Claim in this case and have any questions related to that Claim, please contact the Claims Administrator whose contact information is listed here below:
Please Note: The Claim Form is no longer available.
The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys’ Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
In this securities class action (the "Action") , the Court-appointed Lead Plaintiff, the Public Employees’ Retirement System of Mississippi (“Lead Plaintiff”), alleged that defendants Signet Jewelers Limited (“Signet”), Michael Barnes, Virginia Drosos, Mark Light, Ronald Ristau, and Michele Santana (collectively, “Defendants”) violated the federal securities laws by making materially misleading statements and omissions about (i) the quality of Signet’s credit portfolio for its in-house financing program and (ii) allegations concerning sexual harassment at Signet. A more detailed description of the Action is set forth in paragraphs 11-27 of the Notice. Defendants have denied and continue to deny these allegations.
Lead Plaintiff, on behalf of itself and the Class (defined below), has reached a settlement of the Action for $240,000,000 in cash that, resolves all claims in the Action (the “Settlement”). On July 21, 2020, the Court held a hearing on final approval of the Settlement and related matters. Following the hearing, the Court entered a Decision and Order finally approving the Settlement, approving the Plan of Allocation for the proceeds of the Settlement, and awarding attorney's fees and litigation expenses to Plaintiffs’ Counsel.
We filed the distribution motion on March 12, 2021. The initial distribution occurred on March 4, 2022. Subsequent distributions will occur on a rolling basis.
The Net Settlement Fund (i.e., the Settlement Amount, plus any and all interest earned thereon, less court-awarded attorneys’ fees and Litigation Expenses, Notice and Administration Costs, any required Taxes, and any other fees or costs approved by the Court) was distributed in accordance with the Court-approved Plan of Allocation. The Plan of Allocation is set forth in paragraphs 55-75 of the Notice.
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice. If you have questions, you may contact the Claims Administrator by calling toll-free 1-888-964-0513; emailing info@SignetSecuritiesLitigation.com; or mailing a letter to:
Signet Securities Litigation
c/o JND Legal Administration
P.O. Box 91189
Seattle, WA 98111
Inquiries should NOT be directed to the Court, the Clerk of the Court, Defendants, or their counsel.