Signet To Pay $240M To End Harassment-Linked Investor Suit

Law360 (March 26, 2020, 3:39 PM EDT) -- Signet Jewelers Ltd. reached a $240 million settlement with investors in a securities class action that garnered mixed answers from courts last year as to whether statements in corporate codes of conduct can qualify as material misrepresentations under securities law, according to a Thursday filing.

The investors provided a New York federal judge with a motion for preliminary approval of a deal resolving allegations that Signet's code of conduct and code of ethics falsely stated it was "committed to a workplace free from sexual harassment" and made employment decisions based on merit alone.

Those statements were part of the company's efforts...

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