YORK, April 28, 2023 /PRNewswire/
-- Jakubowitz Law announces that a securities fraud class
action lawsuit has commenced on behalf of shareholders of Target
Corporation (NYSE: TGT).
To receive updates on the lawsuit, fill out the
The lawsuit seeks to recover losses for shareholders who
purchased Target between August 18,
2021 and May 17, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
May 30, 2023 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Target Corporation issued
materially false and/or misleading statements and/or failed to
disclose that: (i) Target's difficulty maintaining a balanced
inventory of in-demand goods was far worse than the Company had
represented; (ii) Target was severely impacted by changing consumer
preferences; (iii) Target's inventory mix was significantly more
sensitive to changing consumer preferences due to Target's practice
of buying larger quantities ahead of season, and was therefore at
significant risk of having to use markdowns to sell out-of-demand
goods; and (iv) as a direct result of these changing preferences,
Target's inventory increasingly became out-of-balance and
overweight in bulky and unsellable goods throughout the Class
Period forcing Target to markdown its out-of-demand goods, thereby
negatively impacting revenue.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law