SOURCE: Kahn Swick & Foti, LLC

November 09, 2009 22:58 ET

INVESTOR ALERT: Former Attorney General of Louisiana Charles C. Foti, Jr. and KSF Notify Zale Corp. Investors of Lead Plaintiff Application Deadline in Securities Class Action Lawsuit - ZLC

NEW ORLEANS, LA--(Marketwire - November 9, 2009) - Kahn Swick & Foti, LLC ("KSF") announces that investors have only until January 8, 2010 to apply for lead plaintiff in a securities class action lawsuit filed in the United States District Court for the Northern District of Texas, on behalf of purchasers of the securities of Zale Corp. ("Zale" or the "Company") (NYSE: ZLC) between November 16, 2006 and October 29, 2009, inclusive (the "Class Period"). No class has yet been certified in this action.

If you would like to discuss your legal rights, along with the lead plaintiff position and its related responsibilities including overseeing lead counsel with a goal of obtaining a fair settlement, you may e-mail or call KSF Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, via cell phone after hours at 504-301-7900, or by email at lewis.kahn@ksfcounsel.com.

Zale and certain of its executive officers are charged with making a series of materially false and misleading statements related to the Company's business and operations in violation of the Securities Exchange Act of 1934.

On October 29, 2009, Zale filed its Form 10-K with the SEC, which included accounting adjustments reflecting restated financials for the 2008 and 2009 years, and prior periods. In addition, Zale disclosed an SEC investigation into the accounting issues that precipitated its restatement. On this news, Zale shares fell approximately 25%, to close at $4.73 per share on heavy volume.

If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court no later than January 8, 2010. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you would like to discuss your legal rights, you may e-mail or call KSF Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, after hours via cell phone 504-301-7900, or by email at lewis.kahn@ksfcounsel.com. To learn more about KSF, you may visit www.ksfcounsel.com. KSF is a law firm focused on securities class action litigation with offices in New Orleans and New York City.

KSF's lawyers have significant experience litigating complex securities class actions. Among other cases, KSF has been appointed Lead or Co-Lead Counsel in the following securities cases: In re: U.S. Auto Parts Networks, Inc. Securities Litigation, C.D. Cal.; In re Xethanol Corporation Securities Litigation, S.D.N.Y.; In re Superior Offshore International, Inc. Securities Litigation, S.D. Tex.; Terayon Comm. Systems Inc., N.D. Cal.; and In re BigBand Networks, Inc. Securities Litigation, N.D. Cal.

SPECIAL NOTICE: KSF encourages you to carefully evaluate any firm you may consider to represent your interests in the Zale class action. The Private Securities Litigation Reform Act ("PSLRA") permits Company shareholders to choose counsel of their choice to prosecute this action. Critical components of a law firm's ability to successfully prosecute this action and obtain a strong recovery for you include the resources it will dedicate to prosecution of the case, including the number of lawyers the firm has available for the Zale action in particular, AND especially the quality of the firm's work. While KSF has not filed suit yet, the firm is currently conducting its own investigation of Zale and interested shareholders are encouraged to call for consultation.

Contact Information

  • Contact:
    Lewis Kahn
    Kahn Swick & Foti, LLC
    650 Poydras St., Suite 2150
    New Orleans, LA 70130
    1-866-467-1400, ext. 100
    Lewis.kahn@ksfcounsel.com