mail@shareholdersfoundation.com
An investor in Zale Corp. shares has filed a lawsuit in the United States District Court for the Northern District of Texas on behalf of those who purchased the securities of Zale Corporation (NYSE:
If you purchased Zale Corporation (NYSE:ZLC) shares between November 16, 2006 and October 29, 2009, you have certain options and there are strict and short deadlines running. Deadline: January 8, 2010. Those ZLC and current long term ZLC shareholders should contact the Shareholders Foundation, Inc at:
Email: mail@shareholdersfoundation.com or at: +1 (858) 779 - 1554
According to the complaint the plaintiff alleges that Zale Corp, and certain of its officers and directors violated federal securities laws. The Complaint alleges that defendants knew or recklessly disregarded that their public statements concerning Zale’s business, operations and prospects were materially false and misleading. Specifically, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose material facts. On October 29, 2009, Zale Corp. filed its Annual Report with the United States Securities and Exchange Commission for the fiscal year ended July 31, 2009, containing restated financial information for fiscal 2008, 2009, and prior periods, to reflect certain accounting adjustments for advertising costs, intercompany accounts receivable, depository bank accounts, federal income taxes, and personal property taxes. Therein, Zale Corp. further disclosed that the SEC is investigating the accounting issues that led to the 2008 and 2009 restatements. As a result of this news, so the lawsuit, shares of Zale Corp. (ZLC) declined $1.66 per share, or nearly 26%, to close on October 30, 2009, at $4.73 per share, on unusually heavy trading volume.
Zale Corporation, located in Irving, Texas, is a specialty retailer of fine jewelry in North America. At July 31, 2008, the Company operated 1,396 specialty retail jewelry stores and 739 kiosks located mainly in shopping malls throughout the United States, Canada and Puerto Rico. Zale Corporation reported on July 31, 2007 a past 12month Total Revenue of $2.15278billion, on July 31, 2008 a past 12 month Total Revenue of $2.13804billion, and on July 31, 2009 a past 12 month Total Revenue of $1.77974billion. Shares of Zale Corporation traded recently at $4.73 per share, down from its 52weekHigh of $17.75 per share, $30.89 per share in 2008, and $29.82 per share in 2007.
Those who purchased Zale Corporation (Public, NYSE:ZLC) shares between November 16, 2006 and October 29, 2009, have certain options and there are strict and short deadlines running. Deadline: January 8, 2010. Those ZLC and current long term ZLC shareholders should contact the Shareholders Foundation, Inc at:
Email: mail@shareholdersfoundation.com or at: +1 (858) 779 – 1554
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-
Fax:+1-(858)-
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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