EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Target Corporation - TGT
May 18 2016 - 5:50PM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces the
filing of a class action lawsuit on behalf of purchasers of Target
Corporation securities (NYSE:TGT) from February 27, 2013 through
May 19, 2014, both dates inclusive (the “Class Period”). The
lawsuit seeks to recover damages for Target investors under the
federal securities laws.
To join the Target class action, go to the firm’s website at
http://rosenlegal.com/cases-899.html or call Phillip Kim, Esq. or
Kevin Chan, Esq. toll free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for more information on
the class action.
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. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants
issued false and misleading statements to investors and/or failed
to disclose that: (1) at the time of the opening of Target’s first
group of stores in Canada, Target had significant problems with its
supply chain infrastructure, distribution centers, and technology
systems, as well as inadequately trained employees; (2) these
problems caused significant, pervasive issues, including excess
inventory at distribution centers and inadequate inventory at
retail locations; (3) the excess inventory at distribution centers
and lack of inventory at retail locations forced Target to heavily
discount products and incur heavy losses; and (4) the supply-chain
and personnel problems were not typical of newly launched locations
in Target’s traditional U.S.-based market; and (5) as a result,
Target’s public statements were materially false and misleading at
all relevant times. When the true details entered the market, the
lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than July
18, 2016. A lead plaintiff is a representative party acting on
behalf of other class members in directing the litigation. If you
wish to join the litigation, go to the firm’s website at
http://rosenlegal.com/cases-899.html for more information. You may
also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law
Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com
or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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version on businesswire.com: http://www.businesswire.com/news/home/20160518006576/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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