De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Signet settles dispute with Zale shareholders
Signet Jewelers Ltd. has agreed to pay several Zale shareholders a total of $34 million in a dispute over the per-share price Signet paid when it acquired Zale last year.
Akron, Ohio--Signet Jewelers Ltd. announced Friday that it has settled a dispute with three separate groups of Zale Corp. shareholders over the per-share price Signet paid when it acquired its rival last year.
In June 2014, shortly after Zale Corp. shareholders approved the merger with Signet, Merion Capital L.P., et al. filed a petition for appraisal in the Court of Chancery of the State of Delaware. Following an acquisition, shareholders can file petitions for appraisal, asking a court to determine the “fair value” of shares at the time of an acquisition.
TIG Arbitrage Opportunity Fund I, L.P. filed on Aug. 26, and The Gabelli ABC Fund et al. followed about a month later, on Sept. 24. All told, the petitioners owned approximately 8.8 million shares of Zale stock.
In October 2014, the Court of Chancery consolidated the three petitions into one case.
The case was scheduled to go to trial this October but last week Signet and the shareholders reached a settlement in which Signet agreed to pay them $34.2 million. The settlement doesn’t change the $21 per share price the shareholders received at the time of the acquisition.
As a result of the settlement, the Court of Chancery dismissed the petition. A Signet spokesman said the settlement and the court’s dismissal end all pending appraisal actions.
The Latest
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.
The retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
The bridal collection consists of 35 engagement rings and seven wedding bands.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.