Whitehall Jewellers Places Executive VP of Merchandising on Leave

Whitehall Jewellers announced Friday that it has placed its Executive Vice President of Merchandising, Lynn Eisenheim, on leave after discovering that she violated a company policy regarding documentation concerning the age of inventory.

The discovery was made during an internal investigation stemming from the Capital Factors lawsuit and the related investigations by the SEC and US Attorney for the Eastern District of New York.

The jeweler says that the inventory at issue represents less than one percent of the company's current inventory, adding that it “does not believe that the actions taken by the executive conferred any financial gain on the executive”.

The violation of company policy also, adds it said in a statement, appears to be unrelated to the subject matters of the Capital Factors lawsuit.