June 12, 2019 / 12:28 AM / 13 days ago

Judge denies Signet's second bid to toss sex harassment securities claims

A federal judge in Manhattan on Tuesday rejected Signet Jewelers Ltd’s claims that its stated commitment to preventing sexual harassment was mere “puffery” that could not be used to support fraud claims by investors who say the company concealed a culture of pervasive harassment against women.

U.S. District Judge Colleen McMahon said that statements a company includes in its code of conduct can be specific enough for shareholders to rely on them in making investment decisions, and denied Signet’s motion for judgment on the pleadings.

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