Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Target Corp. (“Target” or the “Company”) (NYSE: TGT) securities between February 27, 2013 and May 19, 2014, inclusive (the “Class Period”). Target investors have until July 18, 2016 to file a lead plaintiff motion.

Investors suffering losses on their Target investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by e-mail to shareholders@glancylaw.com.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements 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; (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.

Beginning on February 27, 2013, Target repeatedly presented a positive outlook concerning its current and projected operations in Canada, including issuing strong financial and operational guidance for fiscal 2013. However, the Company allegedly failed to disclose to investors that Target’s Canadian expansion had encountered significant operational problems.

Over the course of several weeks the Company slowly revealed to investors the truth regarding its overall underperformance, and the significant problems in its Canadian operations. The Company disclosed to investors that the string of weak performances from Target’s Canadian operations resulted from significant undisclosed operational issues. Eventually, Target announced plans to discontinue its Canadian operations, even filing for bankruptcy protection in Canada. Target investors suffered harm after the Company’s share price declined in value due to the slow revelation of the Company’s underperformance.

If you purchased shares of Target during the Class Period you may move the Court no later than July 18, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://glancylaw.com. If you inquire by e-mail please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Prongay and Murray LLP, Los AngelesLesley Portnoy, 310-201-9150 or 888-773-9224https://www.glancylaw.comshareholders@glancylaw.com

Target (NYSE:TGT)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Target Charts.
Target (NYSE:TGT)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Target Charts.