SIGNET JEWELERS LIMITED (NYSE:SIG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive Agreement.
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of Signet Jewelers Limited (Sterling), announced it had entered
into a consent decree (the Consent Decree) with the Equal
Employment Opportunity Commission (the EEOC). The Consent Decree
settles the previously disclosed EEOC lawsuit alleging that
Sterling engaged in a pattern or practice of discriminating
against female retail store employees with respect to pay and
promotions in violation of Title VII of the Civil Rights Act of
1964 and the Equal Pay Act. The Consent Decree was entered in the
United States District Court for the Western District of New
York, Civil Action Number 08-CV-0706 (Litigation) on May 5, 2017.
Key terms include:
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The Consent Decree completely resolves all claims and
disputes in the Litigation. |
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The Consent Decree contains no findings of liability or
wrongdoing and no award of monetary relief, nor does the Consent Decree itself constitute an admission of wrongdoing by any party with respect to the Litigation. |
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Sterling will retain an Employment Practices Expert (to
be paid by Sterling) to work with the company to evaluate pay and promotion practices and recommend any changes consistent with the Consent Decrees terms. |
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Sterling shall implement such equal opportunity policies,
practices and procedures called for by operation of the Consent Decree. |
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Sterling will appoint a Compliance Officer to oversee the
implementation of and compliance with the Consent Decree. |
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Sterling will offer additional training to HR, management
and employees, including retail sales employees. |
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The Consent Decree will remain in effect for 39 months.
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related civil litigation that has been referred to arbitration,
which is described in our reports filed with the Securities
Exchange Commission. This description is a summary and does not
purport to be a complete description of the Consent Decree. It is
qualified in its entirety by reference to the Consent Decree,
which is attached hereto as Exhibit 99.1 and incorporated herein
by reference. Sterling issued a press release on May 5, 2017,
which is attached as Exhibit 99.2 and is also incorporated by
reference herein.
| Item 9.01 |
Financial Statements and Exhibits
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| (d) |
Exhibits
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Exhibit
Number
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Description
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99.1
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Consent Decree
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99.2
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Press Release, dated May 5, 2017
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About SIGNET JEWELERS LIMITED (NYSE:SIG)
Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault. The Zale division operates jewelry stores (Zale Jewelry) and kiosks (Piercing Pagoda), located primarily in shopping malls across the United States, Canada and Puerto Rico. Zale Jewelry includes the United States store brand, Zales, and the Canadian store brand, Peoples Jewellers. Piercing Pagoda operates through mall-based kiosks. The UK Jewelry division operates stores in the United Kingdom, Republic of Ireland and Channel Islands. The Other segment includes the operations of subsidiaries involved in the purchasing and conversion of rough diamonds to polished stones. SIGNET JEWELERS LIMITED (NYSE:SIG) Recent Trading Information
SIGNET JEWELERS LIMITED (NYSE:SIG) closed its last trading session up +1.16 at 65.06 with 516,020 shares trading hands.
