Zale Shareholders Can't Revive Securities Fraud Suit

Law360, New York (September 1, 2011, 2:08 PM EDT) -- A Texas federal judge on Wednesday denied a motion to reopen a putative class action alleging securities fraud by retail jeweler Zale Corp., ruling that the shareholders failed to present any new arguments or evidence of wrongdoing.

Lead Plaintiff Pipefitters Local No. 636 sought to amend the final judgment of U.S. District Judge Jane J. Boyle, who ruled that accounting problems at the jewelry chain were most likely caused by an executive trying to meet her department budget than by a deliberate fraud.

Judge Boyle dismissed...
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Case Information

Case Title

Bill Rains et al v Zale Corporation, et al


Case Number

3:09-cv-02133

Court

Texas Northern

Nature of Suit

Securities/Commodities

Judge

Jane J Boyle

Date Filed

November 9, 2009

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