In Re Signet Jewelers Limited Securities Litigation
Signet Securities Litigation
Civil Action No. 1:16-cv-06728-CM-SDA

Frequently Asked Questions

 

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  • The Court directed that the Notice be mailed to you because you or someone in your family or an investment account for which you serve as a custodian may have purchased or otherwise acquired Signet common stock during the Class Period.  The Court has directed us to send you the Notice because, as a potential Class Member, you have a right to know about your options before the Court rules on the proposed Settlement.  Additionally, you have the right to understand how this class action lawsuit may generally affect your legal rights.  If the Court approves the Settlement and the Plan of Allocation (or some other plan of allocation), the Claims Administrator selected by Lead Plaintiff and approved by the Court will make payments pursuant to the Settlement after any objections and appeals are resolved.

    The purpose of the Notice is to inform you of the existence of this case, that it is a class action, how you might be affected, and how to exclude yourself from the Class if you wish to do so.  It is also being sent to inform you of the terms of the proposed Settlement and of a hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement, the proposed Plan of Allocation, and the motion by Lead Counsel for an award of attorneys’ fees and payment of Litigation Expenses (the “Settlement Fairness Hearing”).  See paragraphs 81-82 of the Notice for details about the Settlement Fairness Hearing, including the date and location of the hearing.

    The issuance of the Notice is not an expression of any opinion by the Court concerning the merits of any claim in the Action, and the Court still has to decide whether to approve the Settlement.  If the Court approves the Settlement and a plan of allocation, then payments to Authorized Claimants will be made after any appeals are resolved and after the completion of all claims processing.  Please be patient, as this process can take some time to complete.

  • Signet is a jewelry retailer that owns thousands of jewelry stores in North America and the United Kingdom, including Kay Jewelers, Jared, and Zales.  Through an in-house financing program, Signet extended credit to its customers for their jewelry purchases during the Class Period.  In this Action, Lead Plaintiff alleges that, throughout the Class Period, Defendants made a series of 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.  Lead Plaintiff further alleges that the Class suffered damages when the alleged truth regarding these matters was publicly disclosed.

    By Order dated July 27, 2017, the Court appointed MissPERS as Lead Plaintiff in this Action and approved MissPERS’s selection of Bernstein Litowitz Berger & Grossmann LLP as Lead Counsel.

    On March 22, 2018, Lead Plaintiff filed the Fifth Amended Class Action Complaint for Violations of the Federal Securities Laws (the “Fifth Amended Complaint” or “Complaint”), which is the operative complaint in the Action.  The Complaint asserts claims against all Defendants under Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, and against Defendants Barnes, Drosos, Light, Ristau, and Santana (collectively, the “Individual Defendants”) under Section 20(a) of the Exchange Act.  The Complaint alleged that Defendants violated the federal securities laws based on the two categories of false or misleading statements and omissions noted above. The Complaint further alleged that the price of Signet common stock was artificially inflated during the period between August 29, 2013 and March 13, 2018, inclusive, as a result of Defendants’ allegedly false and misleading statements and omissions, and declined when the alleged truth was revealed to the public.

    On March 30, 2018, Defendants filed their motion to dismiss the Complaint, which was fully briefed on April 13, 2018.

    On November 26, 2018, the Court entered its Decision and Order substantially denying Defendants’ motion to dismiss the Complaint.

    On March 15, 2019, Lead Plaintiff filed its motion for class certification and supporting papers (the “Class Certification Motion”), which was fully briefed on June 21, 2019.

    On May 9, 2019, Defendants filed a motion for judgment on the pleadings under Rule 12(c) of the Federal Rules of Civil Procedure as to Lead Plaintiff’s claim in the Complaint based on statements in Signet’s codes of conduct and ethics (“Motion for Judgment on Pleadings”), which was fully briefed on May 30, 2019.

    On June 11, 2019, the Court denied Defendants’ Motion for Judgment on Pleadings. On June 18, 2019, Defendants filed a motion for reconsideration of the Court’s denial of the Motion for Judgment on the Pleadings (“Motion for Reconsideration”).  On June 20, 2019, the Court entered a Decision and Order denying Defendants’ Motion for Reconsideration.

    On July 10, 2019, the Court entered its Decision and Order Granting Plaintiff’s Motion for Class Certification (“Class Certification Order”) in part.  The Court’s Class Certification Order certified a class consisting of all persons and entities who purchased or otherwise acquired Signet common stock from August 29, 2013 to May 25, 2017.

    Discovery in the Action commenced in December 2018.  Lead Plaintiff prepared and served initial disclosures and requests for production of documents on Defendants, exchanged numerous letters with Defendants concerning discovery issues, and served document subpoenas on 16 third parties.  Defendants and third parties produced a total of nearly 4 million pages of documents to Lead Plaintiff, and Lead Plaintiff produced nearly 200,000 pages of documents to Defendants in response to their requests.  31 depositions were taken in the Action, which included depositions of representatives of Lead Plaintiff and depositions of each side’s expert witnesses taken in connection with Lead Plaintiff’s Class Certification Motion.

    On July 24, 2019, Defendants filed a petition, pursuant to Rule 23(f) of the Federal Rules of Civil Procedure (the “Rule 23(f) Petition”), for leave to appeal the Court’s Class Certification Order to the United States Court of Appeals for the Second Circuit (“Second Circuit”).  On August 5, 2019, Lead Plaintiff opposed Defendants’ Rule 23(f) Petition.  On November 19, 2019, the Second Circuit granted Defendants’ Rule 23(f) Petition.

    In September 2019, Lead Plaintiff submitted six opening expert reports.  On October 25, 2019 and November 15, 2019, Defendants submitted nine rebuttal expert reports.  On November 6, 11, and 13, Lead Plaintiff submitted five reply expert reports.

    The Parties began exploring the possibility of a settlement in September 2019.  The Parties agreed to engage in private mediation and retained retired United States District Court Judge Layn R. Phillips to act as mediator in the Action (the “Mediator”).  The Parties exchanged detailed mediation statements and participated in three full-day mediation sessions in New York on November 18, 2019, December 9, 2019, and January 7, 2020.  

    After extensive negotiation throughout the months-long mediation process, following the January 7, 2020 mediation session, the Mediator issued a mediator’s recommendation that the Action be settled for $240,000,000 in cash, which the Parties conditionally accepted subject to approvals by the Mississippi Attorney General and Signet’s Board of Directors, which were subsequently obtained.

    On January 16, 2020, the Parties filed a joint stipulation, pursuant to Second Circuit Local Rule 42.1, withdrawing Defendants’ pending Rule 23(f) appeal without costs or attorneys’ fees. That joint stipulation, which was so-ordered by the Clerk of the Second Circuit Court of Appeals on January 16, 2020, permits Defendants to reinstate the appeal by filing written notice with the Clerk of the Second Circuit Court of Appeals, and serving such notice upon Lead Plaintiff, by August 28, 2020. 

    On March 16, 2020, the Parties entered into the Stipulation, which sets forth the terms and conditions of the Settlement.  The Stipulation is available on the Important Documents page of this website.

    On April 7, 2020, the Court preliminarily approved the Settlement, authorized the Notice to be disseminated to potential Class Members, and scheduled the Settlement Fairness Hearing to consider whether to grant final approval of the Settlement.

  • If you are a member of the Class, you are subject to the Settlement, unless you timely request to be excluded.  The Class certified by Order of the Court on July 10, 2019 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”).

    Excluded from the Class are: (i) Defendants; (ii) the Immediate Family Members of the Individual Defendants; (iii) any person who was an Officer or director of Signet during the Class Period and his or her Immediate Family Members; (iv) any parent, subsidiary, or affiliate of Signet; (v) any firm, trust, corporation, or other entity in which any excluded person or entity has, or had during the Class Period, a controlling interest; and (vi) the legal representatives, agents, affiliates, heirs, successors-in-interest, or assigns of any such excluded person or entity.  Notwithstanding the foregoing, any Signet employee retirement, savings, or benefit plan shall not be deemed an affiliate of any Defendant, except that any Claim submitted on behalf of any Signet employee retirement, savings, or benefit plan shall be pro-rated to exclude the proportion owned by Defendants and other specifically excluded persons or entities.  Also excluded from the Class are any persons or entities who or which exclude themselves by submitting a request for exclusion in accordance with the requirements set forth in the Notice.  See “What If I Do Not Want To Be A Member Of The Class?  How Do I Exclude Myself,” on page 15 of the Notice.

    PLEASE NOTE:  RECEIPT OF THE NOTICE DOES NOT MEAN THAT YOU ARE A CLASS MEMBER OR THAT YOU WILL BE ENTITLED TO A PAYMENT FROM THE SETTLEMENT.  IF YOU ARE A CLASS MEMBER AND YOU WISH TO BE ELIGIBLE TO RECEIVE A PAYMENT FROM THE SETTLEMENT, YOU ARE REQUIRED TO SUBMIT THE CLAIM FORM THAT IS BEING DISTRIBUTED WITH THE NOTICE AND THE REQUIRED SUPPORTING DOCUMENTATION AS SET FORTH IN THE CLAIM FORM POSTMARKED NO LATER THAN AUGUST 28, 2020.

  • Lead Plaintiff and Lead Counsel believe that the claims asserted against Defendants have merit.  They recognize, however, the expense and length of continued proceedings necessary to pursue their claims against Defendants through summary judgment, trial, and appeals, as well as the very substantial risks they would face in establishing liability and damages.  Such risks include the potential challenges associated with proving that there were material misstatements and omissions in Defendants’ public statements, and establishing significant damages under the securities laws.  Also, at the time the Settlement was reached, Defendants’ appeal of the Class Certification Order under Rule 23(f) was pending in the Second Circuit.  If successful, the 23(f) appeal could have resulted in a partial or even complete vacatur of the class certification decision.  If the Parties had not entered into the Settlement, Lead Plaintiff would have to prevail at several additional stages—the 23(f) appeal, summary judgment, a trial, and if it prevailed on those, on the appeals that were likely to follow.  Thus, there were very significant risks related to the continued prosecution of the claims against Defendants.

    In light of these risks, the amount of the Settlement, and the immediacy of recovery to the Class, Lead Plaintiff and Lead Counsel believe that the proposed Settlement is fair, reasonable, and adequate, and in the best interests of the Class.  Lead Plaintiff and Lead Counsel believe that the Settlement provides a substantial benefit to the Class, namely $240,000,000 in cash (less the various deductions described in the Notice), as compared to the risk that the claims in the Action would produce a smaller recovery, or no recovery, after summary judgment, trial, and appeals, possibly years in the future.

    Defendants have denied the claims asserted against them in the Action and deny that the Class was harmed or suffered any damages as a result of the conduct alleged in the Action.  Defendants have agreed to the Settlement solely to eliminate the uncertainty, burden, and expense of continued litigation.  Accordingly, the Settlement may not be construed as an admission of any wrongdoing by Defendants.

  • If there were no Settlement and Lead Plaintiff failed to establish any essential legal or factual element of its claims against Defendants, neither Lead Plaintiff nor the other members of the Class would recover anything from Defendants.  Also, if Defendants were successful in proving any of their defenses, either at summary judgment, at trial, or on appeal, the Class could recover substantially less than the amount provided in the Settlement, or nothing at all.

  • As a Class Member, you are represented by Lead Plaintiff and Lead Counsel, unless you enter an appearance through counsel of your own choice at your own expense.  You are not required to retain your own counsel, but if you choose to do so, such counsel must file a notice of appearance on your behalf and must serve copies of his or her appearance on the attorneys listed in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?,” below.

    If you are a Class Member and do not wish to remain a Class Member, you may exclude yourself from the Class by following the instructions in the section entitled, “What If I Do Not Want To Be A Member Of The Class?  How Do I Exclude Myself?,” below.

    If you are a Class Member and you wish to object to the Settlement, the Plan of Allocation, or Lead Counsel’s application for attorneys’ fees and Litigation Expenses, and if you do not exclude yourself from the Class, you may present your objections by following the instructions in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?,” below.

    If you are a Class Member and you do not exclude yourself from the Class, you will be bound by any orders issued by the Court.  If the Settlement is approved, the Court will enter a judgment (the “Judgment”).  The Judgment will dismiss with prejudice the claims against Defendants and will provide that, upon the Effective Date of the Settlement, Lead Plaintiff and each of the other Class Members, on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns in their capacities as such only, will have, fully, finally, and forever compromised, settled, released, resolved, relinquished, waived, and discharged any or all of the Released Plaintiff’s Claims (as defined in paragraph 37 of the Notice) against Defendants and the other Defendants’ Releasees (as defined in paragraph 38 of the Notice), and will forever be barred and enjoined from prosecuting any or all of the Released Plaintiff’s Claims against any of the Defendants’ Releasees.

    “Released Plaintiff’s Claims” means all claims and causes of action of every nature and description, whether known claims or Unknown Claims, whether arising under federal, state, common or foreign law, whether class or individual in nature, that (a) Lead Plaintiff or any other member of the Class asserted in the Fifth Amended Complaint or any prior complaint filed in this Action or could have asserted in the Action or in any other action or in any forum (including, without limitation, any federal or state court, or in any other court, arbitration proceeding, administrative agency or other forum, in the U.S. or elsewhere), including any such claims that arise out of or relate to any disclosures (including in financial statements), U.S. Securities and Exchange Commission filings, press releases, investor calls, registration statements, offering memoranda, web postings, presentations, or any other statements by Defendants during the Class Period, that arise out of or are based upon the claims, allegations, transactions, facts, circumstances, events, acts, disclosures, statements, representations, omissions, or failures to act alleged, set forth, referred to, or involved in the Fifth Amended Complaint or any prior complaint filed in this Action and (b) relate to the purchase or acquisition of Signet Jewelers Limited common stock during the Class Period.  Released Plaintiff’s Claims do not include, settle, or release (i) any claims relating to the enforcement of the Settlement; (ii) any claims asserted in any derivative action, including, without limitation, the claims asserted in Aungst v. Light, et al., No. CV-2017-3665 (Ct. Com. Pl. Summit Cty. Ohio) or any cases consolidated into that action; (iii) any claims asserted in Benedict v. Signet Jewelers Ltd. et. al., No. 18-004896-CB (Cir. Ct. Wayne Cty. Mich.) or any cases consolidated into that action; (iv) any claims asserted in any ERISA action; (v) any claims by any governmental entity that arise out of any governmental investigation of Defendants relating to the conduct alleged in the Action; and (vi) any claims of any person or entity who or which submits a request for exclusion that is accepted by the Court.

    “Defendants’ Releasees” means each and all of the following: (a) each and every Defendant; (b) Defendants’ respective present and former parents, affiliates, subsidiaries, divisions, directors, officers, general partners, limited partners, Immediate Family Members, heirs, principals, trustees, trusts, executors, administrators, predecessors, successors, successors in interest, assigns, members, agents, employees, managers, representatives, estates, divisions, advisors, estate managers, indemnifiers, insurers (including, but not limited to, Directors and Officers Liability Program Insurers), reinsurers, bankers, consultants, attorneys, accountants, and auditors, in their respective capacities as such; and (c) any entity in which any Defendant has or had a controlling interest. 

    “Unknown Claims” means any Released Plaintiff’s Claims which Lead Plaintiff or any other Class Member does not know or suspect to exist in his, her, or its favor at the time of the release of such claims, and any Released Defendants’ Claims which any Defendant does not know or suspect to exist in his, her, or its favor at the time of the release of such claims, which, if known by him, her, or it, might have affected his, her, or its decision(s) with respect to this Settlement.  With respect to any and all Released Claims, the Parties stipulate and agree that, upon the Effective Date of the Settlement, Lead Plaintiff and Defendants shall expressly waive, and each of the other Class Members shall be deemed to have waived, and by operation of the Judgment or the Alternate Judgment, if applicable, shall have expressly waived, any and all provisions, rights, and benefits conferred by any law of any state or territory of the United States, or principle of common law or foreign law, which is similar, comparable, or equivalent to California Civil Code §1542, which provides:

    A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.

    Lead Plaintiff and Defendants acknowledge, and each of the other Class Members shall be deemed by operation of law to have acknowledged, that the foregoing waiver was separately bargained for and a key element of the Settlement.

    The Judgment will also provide that, upon the Effective Date of the Settlement, Defendants, on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns in their capacities as such only, will have, fully, finally, and forever compromised, settled, released, resolved, relinquished, waived, and discharged any or all of the Released Defendants’ Claims (as defined in paragraph 41 of the Notice) against Lead Plaintiff and the other Plaintiff’s Releasees (as defined in paragraph 42 of the Notice), and will forever be barred and enjoined from prosecuting any or all of the Released Defendants’ Claims against any of the Plaintiff’s Releasees.

    “Released Defendants’ Claims” means all claims and causes of action of every nature and description, whether known claims or Unknown Claims, whether arising under federal, state, common or foreign law, that are based upon, arise out of, relate to, or concern the institution, prosecution, or settlement of the claims asserted in the Action against Defendants.  Released Defendants’ Claims do not include, settle, or release (i) any claims relating to the enforcement of the Settlement; and (ii) any claims against any person or entity who or which submits a request for exclusion that is accepted by the Court.

    “Plaintiff’s Releasees” means each and all of the following: (a) each and every Class Member (including, without limitation, Lead Plaintiff) and their respective counsel (including, without limitation, Plaintiff’s Counsel); (b) the respective present and former parents, affiliates, subsidiaries, divisions, directors, officers, general partners, limited partners, Immediate Family Members, heirs, principals, trustees, trusts, executors, administrators, predecessors, successors, successors in interest, assigns, members, agents, employees, managers, representatives, estates, divisions, advisors, estate managers, indemnifiers, insurers, reinsurers, bankers, consultants, attorneys, accountants, and auditors of each and every Class Member and their respective counsel, in their respective capacities as such; and (c) any entity in which any Class Member or their respective counsel has or had a controlling interest.

  • To be eligible for a payment from the Settlement, you must be a member of the Class and you must timely complete and return the Claim Form with adequate supporting documentation postmarked no later than August 28, 2020.  A Claim Form is included with the Notice, or you may obtain one from the Important Documents page of this website maintained by the Claims Administrator for the Settlement.  You may also request that a Claim Form be mailed to you by calling the Claims Administrator toll free at 1-888-964-0513 or by emailing the Claims Administrator at Info@SignetSecuritiesLitigation.com.  Please retain all records of your ownership of and transactions in Signet common stock, as they will be needed to document your Claim.  The Parties and Claims Administrator do not have information about your transactions in Signet common stock.

    If you request exclusion from the Class or do not submit a timely and valid Claim Form, you will not be eligible to share in the Net Settlement Fund.

  • At this time, it is not possible to make any determination as to how much any individual Class Member may receive from the Settlement.

    Pursuant to the Settlement, Defendants have agreed to pay or caused to be paid a total of $240,000,000 in cash (the “Settlement Amount”).  The Settlement Amount will be deposited into an escrow account.  The Settlement Amount plus any interest earned thereon is referred to as the “Settlement Fund.”  If the Settlement is approved by the Court and the Effective Date occurs, the “Net Settlement Fund” (that is, the Settlement Fund less: (i) any Taxes; (ii) any Notice and Administration Costs; (iii) any Litigation Expenses awarded by the Court; (iv) any attorneys’ fees awarded by the Court; and (v) any other costs or fees approved by the Court) will be distributed to Class Members who submit valid Claim Forms, in accordance with the proposed Plan of Allocation or such other plan of allocation as the Court may approve.

    The Net Settlement Fund will not be distributed unless and until the Court has approved the Settlement and a plan of allocation, and the time for any petition for rehearing, appeal, or review, whether by certiorari or otherwise, has expired.

    Neither Defendants nor any other person or entity that paid any portion of the Settlement Amount on their behalf are entitled to get back any portion of the Settlement Fund once the Court’s order or judgment approving the Settlement becomes Final.  Defendants will not have any liability, obligation, or responsibility for the administration of the Settlement, the disbursement of the Net Settlement Fund, or the plan of allocation.

    Approval of the Settlement is independent from approval of a plan of allocation.  Any determination with respect to a plan of allocation will not affect the Settlement, if approved.

    Unless the Court otherwise orders, any Class Member who or which fails to submit a Claim Form postmarked on or before August 28, 2020 will be fully and forever barred from receiving payments pursuant to the Settlement but will in all other respects remain a member of the Class and be subject to the provisions of the Stipulation, including the terms of any Judgment entered and the releases given.  This means that each Class Member releases the Released Plaintiff’s Claims (as defined in paragraph 37 of the Notice) against the Defendants’ Releasees (as defined in paragraph 38 of the Notice) and will be barred and enjoined from prosecuting any of the Released Plaintiff’s Claims against any of the Defendants’ Releasees whether or not such Class Member submits a Claim Form.

    Participants in, and beneficiaries of, a Signet employee benefit plan covered by ERISA (“ERISA Plan”) should NOT include any information relating to their transactions in Signet common stock held through the ERISA Plan in any Claim Form that they submit in this Action.  They should include ONLY those shares that they purchased or acquired outside of the ERISA Plan.  Claims based on any ERISA Plan’s purchases or acquisitions of Signet common stock during the Class Period may be made by the plan’s trustees.

    The Court has reserved jurisdiction to allow, disallow, or adjust on equitable grounds the Claim of any Class Member.

    Each Claimant will be deemed to have submitted to the jurisdiction of the Court with respect to his, her, or its Claim Form.

    Only Class Members, i.e., persons and entities who purchased or otherwise acquired Signet common stock during the Class Period and were allegedly damaged as a result of such purchases or acquisitions, will be eligible to share in the distribution of the Net Settlement Fund.  Persons and entities that are excluded from the Class by definition or that exclude themselves from the Class pursuant to request will not be eligible for a payment and should not submit Claim Forms.  The only security that is included in the Settlement is Signet common stock.

  • Plaintiff’s Counsel have not received any payment for their services in pursuing claims asserted in the Action on behalf of the Class, nor have Plaintiff’s Counsel been paid for their litigation expenses.  Before final approval of the Settlement, Lead Counsel will apply to the Court for an award of attorneys’ fees in an amount not to exceed 25% of the Settlement Fund, net of Court-approved Litigation Expenses.  Lead Counsel has fee or work sharing agreements with the other Plaintiff’s Counsel firm, Gadow Tyler, PLLC, and Lead Counsel will compensate that firm from the attorneys’ fees that Lead Counsel receives in this Action in amounts commensurate with that firm’s efforts in this litigation that were undertaken at the specific direction of Lead Counsel.  At the same time, Lead Counsel also intends to apply for payment of Litigation Expenses from the Settlement Fund in an amount not to exceed $4,000,000, which may include an application for reimbursement of the reasonable costs and expenses incurred by Lead Plaintiff directly related to its representation of the Class, pursuant to the PSLRA.  The Court will determine the amount of any award of attorneys’ fees or Litigation Expenses.  Class Members are not personally liable for any such fees or expenses.

  • Each Class Member will be bound by all determinations and judgments in this lawsuit, whether favorable or unfavorable, unless such person or entity mails or delivers a written Request for Exclusion from the Class, addressed to Signet Securities Litigation, EXCLUSIONS, c/o JND Legal Administration, P.O. Box 91189, Seattle, WA 98111, with a copy emailed to both Lead Counsel at johnr@blbglaw.com and Defendants’ Counsel at joseph.allerhand@weil.com and stacy.nettleton@weil.com.  The Request for Exclusion must be received no later than June 30, 2020.  You will not be able to exclude yourself from the Class after that date.  Each Request for Exclusion must: (i) state the name, address, and telephone number of the person or entity requesting exclusion, and in the case of entities, the name and telephone number of the appropriate contact person; (ii) state that such person or entity “requests exclusion from the Class in In re Signet Jewelers Limited Securities Litigation, Civil Action No. 1:16-cv-06728-CM-SDA”; (iii) state the number of shares of Signet common stock that the person or entity requesting exclusion: (A) owned as of the opening of trading on August 29, 2013; (B) purchased/acquired and/or sold during the period from August 29, 2013 through and including August 22, 2017, including the dates, number of shares, and prices of each purchase/acquisition and sale of Signet common stock during this period; and (C) owned as of the close of trading on August 22, 2017; and (iv) be signed by the person or entity requesting exclusion or an authorized representative.  A Request for Exclusion that does not provide all the information called for in this paragraph and is not received within the time stated above will be invalid and will not be allowed.  Lead Counsel may request that the person or entity requesting exclusion submit additional information or documentation sufficient to prove his, her, or its holdings and trading in Signet common stock.

    If you do not want to be part of the Class, you must follow these instructions for exclusion even if you have pending, or later file, another lawsuit, arbitration, or other proceeding relating to any Released Plaintiff’s Claim against Defendants or any of the other Defendants’ Releasees.  Excluding yourself from the Class is the only option that allows you to be part of any other lawsuit against any of the Defendants’ Releasees concerning the Released Plaintiff’s Claims.  Please note, however, that if you decide to exclude yourself from the Class, you may be time-barred from asserting the claims asserted in the Action against Defendants by a statute of repose that has possibly expired for claims under the federal securities laws.

    If you ask to be excluded from the Class, you will not be eligible to receive any payment out of the Net Settlement Fund.

    Signet has the right to terminate the Settlement if valid requests for exclusion are received from persons and entities entitled to be members of the Class in an amount that exceeds an amount agreed to by Lead Plaintiff and Signet.

  • Class Members do not need to attend the Settlement Fairness Hearing.  The Court will consider any submission made in accordance with the provisions below even if a Class Member does not attend the hearing.  You can participate in the Settlement without attending the Settlement Fairness Hearing.  Please Note: The date and time of the Settlement Fairness Hearing may change without further written notice to the Class.  In addition, the recent outbreak of the Coronavirus (COVID-19) is a fluid situation that creates the possibility that the Court may decide to conduct the Settlement Fairness Hearing by video or telephonic conference, or otherwise allow Class Members to appear at the hearing by phone, without further written notice to the Class.  In order to determine whether the date and time of the Settlement Fairness Hearing have changed, or whether Class Members must or may participate by phone or video, it is important that you monitor the Court’s docket and this website, before making any plans to attend the Settlement Fairness Hearing.  Any updates regarding the Settlement Fairness Hearing, including any changes to the date or time of the hearing or updates regarding in-person or telephonic appearances at the hearing, will be posted to this website.  Also, if the Court requires or allows Class Members to participate in the Settlement Fairness Hearing by telephone, the phone number for accessing the telephonic conference will be posted to this website.

    The Settlement Fairness Hearing will be held on July 21, 2020 at 4:00 p.m., before the Honorable Colleen McMahon at the United States District Court for the Southern District of New York, Courtroom 24A of the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007-1312, to determine, among other things: (i) whether the proposed Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Class, and should be finally approved by the Court; (ii) whether the Action should be dismissed with prejudice against Defendants and the Releases specified and described in the Stipulation (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; (iv) whether Lead Counsel’s application for an award of attorneys’ fees and Litigation Expenses should be approved; and (v) any other matters that may properly be brought before the Court in connection with the Settlement.  The Court reserves the right to approve the Settlement, the Plan of Allocation, and Lead Counsel’s motion for an award of attorneys’ fees and payment of Litigation Expenses and/or consider any other matter related to the Settlement at or after the Settlement Fairness Hearing without further notice to the members of the Class.

    Any Class Member who or which does not request exclusion may object to the Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees and Litigation Expenses.  Objections must be in writing.  You must file any written objection, together with copies of all other papers and briefs supporting the objection, with the Clerk’s Office at the United States District Court for the Southern District of New York at the address set forth below on or before June 30, 2020.  You must also serve the papers on Lead Counsel and on Defendants’ Counsel at the addresses set forth below, with a copy emailed to both Lead Counsel at johnr@blbglaw.com and Defendants’ Counsel at joseph.allerhand@weil.com and stacy.nettleton@weil.com, so that the papers are received on or before June 30, 2020.

     

    Clerk of Court
    United States District Court
    Southern District of New York
    Office of the Clerk of the Court
    Daniel Patrick Moynihan United States Courthouse
    500 Pearl Street
    New York, NY 10007
     

    LEAD COUNSEL
    Bernstein Litowitz Berger
    & Grossmann LLP

    John Rizio-Hamilton, Esq.
    1251 Avenue of the Americas, 44th Floor
    New York, NY 10020
     

    DEFENDANTS’ COUNSEL
    Weil, Gotshal & Manges LLP
    Joseph S. Allerhand, Esq.
    767 Fifth Avenue
    New York, NY 10153
     

    Any objection must clearly identify the case name and civil action number, In re Signet Jewelers Limited Securities Litigation, Civil Action No. 1:16-cv-06728-CM-SDA, and it must: (i) state the name, address, and telephone number of the person or entity objecting and must be signed by the objector; (ii) state with specificity the grounds for the Class Member’s objection, including any legal and evidentiary support that the Class Member wishes to bring to the Court’s attention and whether the objection applies only to the objector, to a specific subset of the Class, or to the entire Class; and (iii) include documents sufficient to prove membership in the Class, including documents showing the number of shares of Signet common stock that the objecting Class Member: (A) owned as of the opening of trading on August 29, 2013 and (B) purchased/acquired and/or sold during the Class Period (i.e., from August 29, 2013 to May 25, 2017), including the dates, number of shares, and prices of each purchase/acquisition and sale of Signet common stock during the Class Period.  Documentation establishing membership in the Class must consist of copies of brokerage confirmation slips or monthly brokerage account statements, or an authorized statement from the objector’s broker containing the transactional and holding information found in a broker confirmation slip or account statement.  You may not object to the Settlement, the Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees and Litigation Expenses if you exclude yourself from the Class or if you are not a member of the Class.

    You may file a written objection without having to appear at the Settlement Fairness Hearing.  You may not, however, appear at the Settlement Fairness Hearing to present your objection unless you first file and serve a written objection in accordance with the procedures described above, unless the Court orders otherwise. 

    If you wish to be heard orally at the Settlement Fairness Hearing in opposition to the approval of the Settlement, the Plan of Allocation, or Lead Counsel’s motion for an award of attorneys’ fees and Litigation Expenses, assuming you timely file and serve a written objection as described above, you must also file a notice of appearance with the Clerk’s Office and serve it on Lead Counsel and on Defendants’ Counsel at the mailing and email addresses set forth in paragraph 83 of the Notice so that it is received on or before June 30, 2020.  Persons who intend to object and desire to present evidence at the Settlement Fairness Hearing must include in their written objection or notice of appearance the identity of any witnesses they may call to testify and exhibits they intend to introduce into evidence at the hearing.  Objectors who intend to appear at the Settlement Fairness Hearing through counsel must also identify that counsel by name, address, and telephone number.  Objectors and/or their counsel may be heard orally at the discretion of the Court.

    You are not required to hire an attorney to represent you in making written objections or in appearing at the Settlement Fairness Hearing.  However, if you decide to hire an attorney, it will be at your own expense, and that attorney must file a notice of appearance with the Court and serve it on Lead Counsel and Defendants’ Counsel at the mailing and email addresses set forth in paragraph 83 of the Notice so that the notice is received on or before June 30, 2020.

    The Settlement Fairness Hearing may be adjourned by the Court without further written notice to the Class.  If you intend to attend the Settlement Fairness Hearing, you should confirm the date and time of the hearing as stated in paragraph 81 of the Notice. 

    Unless the Court orders otherwise, any Class Member who does not object in the manner described above will be deemed to have waived any objection and will be forever foreclosed from making any objection to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for an award of attorneys’ fees and Litigation Expenses.  Class Members do not need to appear at the Settlement Fairness Hearing or take any other action to indicate their approval.

  • If you purchased or otherwise acquired shares of Signet common stock during the period from August 29, 2013 to May 25, 2017, for the beneficial interest of persons or organizations other than yourself, you must either (i) within seven (7) calendar days of receipt of the Notice, request from the Claims Administrator sufficient copies of the Notice and Claim Form (the “Notice Packet”) to forward to all such beneficial owners and within seven (7) calendar days of receipt of those Notice Packets forward them to all such beneficial owners; or (ii) within seven (7) calendar days of receipt of the Notice, provide a list of the names, addresses, and, if available, email addresses of all such beneficial owners to Signet Securities Litigation, c/o JND Legal Administration, P.O. Box 91189, Seattle, WA 98111.  If you choose the second option, the Claims Administrator will send a copy of the Notice Packet to the beneficial owners.  Upon full compliance with these directions, such nominees may seek reimbursement of their reasonable expenses actually incurred, by providing the Claims Administrator with proper documentation supporting the expenses for which reimbursement is sought.  Copies of the Notice and the Claim Form may also be obtained from the Important Documents page of this website, by calling the Claims Administrator toll-free at 1-888-964-0513, or by emailing the Claims Administrator at Info@SignetSecuritiesLitigation.com.

  • The Notice contains only a summary of the terms of the proposed Settlement.  For more detailed information about the matters involved in this Action, you are referred to the papers on file in the Action, including the Stipulation, which may be inspected during regular office hours at the Office of the Clerk, United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007.  Additionally, copies of the Stipulation and any related orders entered by the Court will be posted on this website.

    All inquiries concerning the Notice and the Claim Form should be directed to:

    Signet Securities Litigation
    c/o JND Legal Administration
    P.O. Box 91189
    Seattle, WA 98111
    1-888-964-0513
    Info@SignetSecuritiesLitigation.com

     

    and/or
     

    John Rizio-Hamilton, Esq.
    Bernstein Litowitz Berger
    & Grossmann LLP
    1251 Avenue of the Americas, 44th Floor
    New York, NY 10020
    1-800-380-8496
    settlements@blbglaw.com
     

    DO NOT CALL OR WRITE THE COURT, THE OFFICE OF THE CLERK OF THE COURT, DEFENDANTS, OR THEIR COUNSEL REGARDING THE NOTICE.

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Mail

Signet Securities Litigation
c/o JND Legal Administration
P.O. Box 91189
Seattle, WA 98111