Signet CEO: Short Sellers Launched a “Targeted Attack” At Us

Light says traders tried to lower stock value by publicizing diamond-swapping complaints

Signet Jewelers CEO Mark Light claims that short sellers launched a “targeted attack” to bring down the company’s stock price, according to a Bloomberg report cited by Rapaport. The article notes that Signet’s stock price has fallen by more than 20 percent since a recent Buzzfeed report quoted customers of Kay Jewelers, a Signet subsidiary, and alleged that their diamonds were swapped out for lower-quality gems. Light says that the short sellers led an “orchestrated campaign” to heighten the controversy, adding: “We have to make it right and get on top of social media to make sure that the other side of the story is told.”

Read more at Rapaport