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
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:
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.
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) will be distributed in accordance with the Court-approved Plan of Allocation. The Plan of Allocation is set forth in paragraphs 55-75 of the Notice.
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the Settlement.
The Class consists of:
all persons and entities who purchased or otherwise acquired Signet common stock during the period from August 29, 2013 to May 25, 2017 (the “Class Period”) and who were allegedly damaged thereby (the “Class”), except for certain persons and entities who are excluded from the Class by definition as set forth in paragraph 28 of the Notice.
Please read the Notice to fully to understand your rights and options.
If you are a member of the Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form with adequate supporting documentation postmarked no later than August 28, 2020.
Payments to eligible claimants will be made only after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|AUGUST 28, 2020.
||Claim Filing Deadline. Claim Forms must be postmarked no later than August 28, 2020 to be eligible for a payment from the Settlement.
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.