Powered by

Signet shares plummet after discrimination claims surface

Feb 28, 2017 - CNN

NEW YORK (CNNMoney) -- Trading in Signet Jewelers was halted briefly Tuesday morning following reports of a sexual discrimination case against the company, which owns Kay Jewelers and Jared the Galleria of Jewelry.

Before Signet stopped trading, shares fell by more than 8%. When trading resumed shortly after noon, it continued to fall. Overall, shares fell by 12.8% Tuesday.

The arbitration has been ongoing since 2008 and now represents 69,000 former and current Sterling employees.

Hundreds of complaints claim that the company systematically discriminated against female employees and are rife with allegations of rampant sexual haras...