TrendsDec 03, 2025
Miley Cyrus Debuts Edgy Engagement RingFellow musician Maxx Morando proposed to the star with a chunky, cushion-cut diamond ring designed by Jacquie Aiche.
MajorsJul 23, 2019
Judge Certifies Signet Investor Lawsuit as a Class Action
It now includes all persons or entities that acquired Signet common stock from Aug. 29, 2013 to May 25, 2017.
New York—A federal judge in New York has certified a lawsuit filed by shareholders against Signet Jewelers Ltd. as a class action and declined the retailer’s request to revisit the ruling.
The lawsuit, filed in 2016 by The Public Employees’ Retirement System of Mississippi, accuses the retailer of misrepresenting two aspects of the company: the health of its credit portfolio (which the company has since outsourced) and the depth and breadth of allegations of a culture of “pervasive” sexual harassment.
The suit now includes all persons or entities that acquired Signet common stock from Aug. 29, 2013 to May 25, 2017.
The day following the class certification, July 11, Signet’s counsel asked the judge for clarification regarding evidence pertaining to the sexual harassment aspect of the suit, particularly the role its Code of Conduct played in misleading investors.
Signet had sought dismissal of the sexual harassment aspect of the lawsuit in May, claiming that its Code of Conduct was an example of “puffery” and acting in contrast to it shouldn’t be viewed as misleading investors.
(Claiming a statement is “puffery”—that it is so general the average person would not rely upon it as fact—is often used as a defense against claims of fraud, especially claims of false advertising.)
U.S. District Judge Colleen McMahon denied Signet’s motion, noting that some statements included in a company’s code of conduct can be specific enough for investors to rely upon when deciding to invest in a company and highlighted the importance of context given Signet’s ongoing legal proceedings, particularly Jock, et al. v. Sterling Jewelers Inc., the case filed in March 2008 by several women accusing the company of discriminatory pay and promotion practices based on their gender.
“The problem for defendants is that … Signet’s codes of conduct and ethics—again, reincorporated by reference in Signet’s SEC filings and posted on Signet’s website after Jock was filed—touted certain values and practices that constitute the exact opposite of what the company allegedly valued and practiced,” she wrote in a court filing.
The investors’ counsel viewed the request for clarification as Signet’s latest attempt to dismiss the company culture aspect of the case after five failed attempts to do so, calling it the “sixth bite at the proverbial apple.”
McMahon sided with the plaintiffs in a handwritten memo scribbled on top of Signet’s request for clarification, writing: “I agree with the plaintiff’s counsel—my ruling is crystal clear. There is nothing to
clarify. Your understanding is completely, totally and utterly wrong.”
The case, known as In re Signet Jewelers Limited Securities Litigation, is currently in pre-trial proceedings.
Signet Jewelers declined to comment on the judge’s decisions, saying it does not comment on pending legal matters.
The case, known as In re Signet Jewelers Limited Securities Litigation, is currently in pre-trial proceedings.
Signet Jewelers declined to comment on the judge’s decisions, saying it does not comment on pending legal matters.
More on Majors
The Latest
SurveysDec 03, 2025
A Record 202.9M Shoppers Turned Out Thanksgiving WeekendBlack Friday is still the most popular shopping day over the five-day holiday weekend, as per the National Retail Federation’s survey.
AuctionsDec 03, 2025
Fabergé’s 'The Winter Egg' Achieves Record $30MThe historic egg, crafted for Russia's ruling family prior to the revolution, was the star of Christie’s recent auction of works by Fabergé.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
FinancialsDec 02, 2025
Signet Jewelers’ Q3 Sales Up Amid Continued Focus on Lower Price PointsThe retailer offered more fashion jewelry priced under $1,000, including lab-grown diamond and men’s jewelry.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsDec 02, 2025
Briony Raymond Introduces First FragranceThe eau de parfum is held in a fluted glass bottle that mirrors the decor of the brand’s atelier, and its cap is a nod to its “Sloan” ring.
SourcingDec 02, 2025
Petra Diamonds Elevates Interim CEOs to Permanent StatusVivek Gadodia and Juan Kemp, who’ve been serving as interim co-CEOs since February, will continue to lead the diamond mining company.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
IndependentsDec 02, 2025
RJO Welcomes Its 1,200th Retail MemberWitt’s Jewelry in Wayne, Nebraska, is the organization’s new milestone member.
SourcingDec 02, 2025
Brendan Laurs Honored With 2025 Bonanno AwardLaurs is the editor-in-chief of Gem-A’s The Journal of Gemmology and an expert on the formation of colored gemstone deposits.
CrimeDec 01, 2025
Fourth Man Charged in Louvre Jewelry HeistThe man, who has a criminal history, is suspected of being the fourth member of the four-man crew that carried out the heist.
AuctionsDec 01, 2025
Christie’s Presents ‘Splendor & Style’ CollectionThe single-owner collection includes one of the largest offerings of Verdura jewels ever to appear at auction, said Christie’s.
IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago JewelerMichael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
MajorsDec 01, 2025
PGI Debuts Platinum-Filled Holiday Gift GuideThe guide features all-new platinum designs for the holiday season by brands like Harwell Godfrey, Ritani, and Suna.
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
SourcingNov 25, 2025
Finestar Opens Diamond Manufacturing Facility in JohannesburgIt joins the company’s other manufacturing facilities globally, including in India, Botswana, and Namibia.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
CrimeNov 25, 2025
Former Arizona AG Official Charged With Trafficking Stolen JewelryVanessa Hickman, 49, allegedly sold a diamond bracelet that was mistakenly sent to her home.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
Recorded WebinarsNov 24, 2025
Watch: Top Tips for Social Media EtiquetteSocial media experts spoke about protecting brand reputation through behaving mindfully online.
WatchesNov 24, 2025
Breitling Reveals Plans for Gallet, Universal GenèveIn 2026, the three will come together as “House of Brands,” with Gallet sold in Breitling stores and Universal Genève sold separately.
CollectionsNov 24, 2025
Muse Debuts a Wicked 'Have a Heart x Cynthia Erivo' SequelThe second drop, which includes more Elphaba-inspired pieces from additional designers, will continue to benefit nonprofit Dreams of Hope.
