The company's Series A shares will continue to trade following a reverse stock split while its Series B shares will be delisted.
Appeals Court Denies Sterling’s Petition
The U.S. Court of the Appeals for the Second Circuit decided this week that it will not review the decision that revived the EEOC’s nationwide gender bias suit against Sterling Jewelers.
New York--A U.S. appeals court decided this week that it will not review the decision made by three of its judges that revived the Equal Employment Opportunity Commission’s nationwide gender bias suit against Sterling Jewelers Inc.
In a one-page decision issued Tuesday, the U.S. Court of Appeals for the Second Circuit denied Sterling’s request for rehearing by the three-judge panel, or, alternately, an en banc review (one heard by all judges). The order provided no explanation for the court’s decision.
When contacted Wednesday, both the EEOC and Sterling said it is their general policy not to comment on legal matters.
Sterling, however, has maintained throughout the case that the EEOC’s allegations of pay and promotion discrimination lodged against it were taken seriously, investigated thoroughly and are not substantiated by the facts.
The allegations “do not reflect the culture of our company,” the retailer said.
The EEOC filed its lawsuit against Sterling in September 2008 under Title VII of the Civil Rights Act of 1964, which prohibits employers from discriminating on the basis of race, color, religion, sex or national origin.
Filed on behalf of some 44,000 female employees, the suit alleges that Sterling paid women less and passed them over for promotions in favor of less-qualified male employees.
Since its filing seven years ago, the case has been dismissed by both a federal and a magistrate judge on grounds that the EEOC did not conduct a thorough enough investigation to warrant it filing a nationwide discrimination lawsuit against the specialty jeweler.
But it was brought back to life this past fall, when the appeals court overturned those decisions and sent the case back down to the district court level for further proceedings.
Neither the EEOC nor Sterling would comment on next steps in the case on Wednesday.
The Latest

Communicating clearly with your staff is key to navigating turbulent times, writes columnist Peter Smith.

The “Inner Journey” collection debuted as the brand celebrated its 25th anniversary, with designs inspired by Morais’ journey.

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

Sales for Richemont’s four jewelry brands increased 8 percent, while watch sales picked up toward the end of the year.


Two scholarships are available, one for new and non-members and another for NAJA certified members.

The retailer’s new flagship is set to open in October at the Tuscan Village development in Salem, New Hampshire.

Supplier Spotlight Sponsored by GIA

Sapphires, emeralds, and rubies are finding their place in a U.S. market captivated by the gemstones once referred to as “semi-precious.”

Plus, parent company Saks Global announces plans to cut ties with up to 600 vendors.

Peter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.

The necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.

Sponsored by the Las Vegas Antique Jewelry and Watch Show

A private American collector purchased the 10-carat fancy vivid blue diamond.

The designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.

The country’s gem and jewelry exports fell 5 percent year-over-year last month, while imports declined 18 percent.

Around 54 million Americans and counting live with a disability. Here’s how to make your jewelry store and website more accessible.

The event is also accepting poster submissions now through June 16.

Before Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.

The one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.

While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.

The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.

The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.

The donation was the result of the brand’s annual Earth Day Ingot event.

Located in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.

The nonprofit has made updates to the content in its beginner and advanced jewelry sales courses.

BIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.