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Zale Corporation Summary: According to the complaint filed November 09, 2009, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company improperly recorded certain advertising costs as prepaid advertising rather than recording the cost as an expense; (2) that the Company improperly accounted for intercompany accounts receivable associated with its wholly owned insurance subsidiaries; (3) that, as a result, the Company’s financial results were overstated during the Class Period; (4) that the Company’s financial results were not prepared in accordance with Generally Accepted Accounting Principles (“GAAP”); (5) that the Company lacked adequate internal and financial controls; and (6) that, as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.
INDUSTRY CLASSIFICATION:
SIC Code: 5944
Sector: Services
Industry: Retail (Specialty)
| COMPANY/ISSUER NAME: | Zale Corporation |
| COMPANY/ISSUER TICKER: | ZLC |
| COMPANY WEBSITE: | http://www.zalecorp.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Bill Rains , et al. v. Zale Corporation, et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Class Action Complaint For Violations Of The Federal Securities Laws | |||
| Type: Complaint | Date on the document: 11/09/2009 | ||
| OTHER DOCUMENTS | |||
| Class Action Complaint for Violation of the Federal Securities Laws - Demand for Jury Trial | |||
| Case Name and/or Number: Brian A. Lawyer, et al. v. Zale Corporation, et al. | |||
| Type: Complaint | Date on the document: 11/19/2009 | ||
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