Jeweler Zale Hit With Another Investor Fraud Suit

Law360, New York (November 10, 2009, 1:31 PM EST) -- In a case of deja vu all over again, Zale Corp. is facing an investor class action alleging the jeweler overstated its earnings as part of a fraud that has brought the company under regulatory scrutiny and sunk its stock price.

More than a year after Zale Corp. paid roughly $6 million to settle similar shareholder claims, an investor launched suit Monday in the U.S. District Court for the Northern District of Texas alleging the jeweler knowingly misrepresented material facts about the business and fraudulently pumped...
To view the full article, register now.