Signet tumbles after report of harrassment at subsidiary

WASHINGTON (AP) — Shares of Signet Jewelers, in which trading had been suspended, are falling again after a damaging report of sexual harassment and discrimination at a subsidiary.

The Washington Post first reported the allegations Monday, based on class-action arbitration filings.

According to the report, Sterling Jewelers discriminated against female employees and that male managers and executives engaged in rampant sexual harassment for years.

A private arbitrator ruled that thousands of current and former female sales associates of mall jewelry stores Kay and Jared, which are owned by Sterling, can sue for discrimination and back wages based.

Sterling, based in Akron, Ohio, denied the allegations Tuesday and called media reports “distorted and inaccurate.”

Shares of Signet are down more than 9 percent to levels not seen in almost four years.