BALA CYNWYD, Pa., April 12, 2006 (PRIMEZONE) -- Law offices of Brodsky & Smith, L.L.C. today announced that it has commenced an investigation on behalf of participants and beneficiaries of the Zale Corporation ("Zale" or the "Company") (NYSE:ZLC) Savings and Investment Plan (the "Plan") for violations of the Employee Retirement Income Security Act of 1974 ("ERISA") in relation to the handling of investments in the Plan by certain named and unnamed administrators and fiduciaries.
In particular, the investigation focuses on whether the Company and certain Plan administrators breached their fiduciary duties of loyalty and prudence to the Plan and its participants by, inter alia: (a) negligently misrepresenting and negligently failing to disclose material facts to the Plan and the Plan participants in connection with the management of the Plan's assets and (b) negligently permitting the Plan to purchase and hold Zale common stock when it was imprudent to do so.
If you are a Plan participant and hold shares of Zale common stock in your retirement benefit plan and want to discuss your legal rights, you may e-mail or call the law office of Brodsky & Smith, L.L.C. who will, without obligation or cost to you, attempt to answer your questions. You may contact Evan J. Smith, Esquire or Marc Ackerman, Esquire at Brodsky & Smith, L.L.C., Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com or by calling toll free 877-LEGAL-90.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca