BENSALEM, Pa., July 21, 2006 (PRIMEZONE) -- Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of shareholders who purchased securities of Zale Corporation ("Zale" or the "Company")(NYSE:ZLC) between February 18, 2005 and May 5, 2006, inclusive (the "Class Period"). The class action lawsuit was filed in the United States District Court for the Southern District of New York.
The Complaint alleges that defendants violated federal securities laws by issuing a series of material misrepresentations to the market during the Class Period concerning the Company's financial performance, thereby artificially inflating the price of Zale securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Zale securities between February 18, 2005 and May 5, 2006, you have certain rights, and have until September 18, 2006, in which to move for Lead Plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmithlaw@hotmail.com or visit our website at www.howardsmithlaw.com.