Jared, Kay Owner Misled on Credit Portfolio, Investors Say (1)

Signet Jewelers Ltd. didn’t tell investors the truth about the health of its credit portfolio, which also subjected it to regulatory scrutiny, two March 27 suits said.

The company behind jewelry giants Jared, Kay, and Zales repeatedly misled investors about the strength of its credit portfolio and the adequacy of its loan reserves, according to the suits, both filed in the U.S. District Court for the Southern District of New York.

Signet in November failed in its bid to get an earlier putative class action over similar allegations thrown out. The company settled allegations of “deceptive and abusive lending practices” ...