NEW YORK, May 20, 2016 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Target
Corporation ("Target" or the "Company") (NYSE: TGT). Such
investors are advised to contact Robert S.
Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.
9980.
[Click here to join a class action]
The investigation concerns whether Target and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On or about May 19, 2014, news
reports were published regarding the extent of problems experienced
by the Company's Canadian operations, including: (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.
Then, on May 20, 2014, prior to
the trading session, news reports circulated that Target had fired
Tony Fisher, the Company's president
of Canadian operations.
On this news, Target's shares fell $1.68, or nearly 2.9%, to close at $56.61 per share on May
20, 2014.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP