Category: TGT

LOS ANGELES, CA / ACCESSWIRE / May 28, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Target Corporation (“Target” or “the Company”) (NYSE: TGT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between August 18, 2021 and May 17, 2022, inclusive (the “Class Period”), are encouraged to contact the firm before May 30, 2023.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected]

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Target’s strategy of over-ordering inventory to combat supply chain problems left it incapable of reacting to changes in consumer behavior. The Company failed to capitalize on the “massive influx of insights” during the pandemic by changing inventory to match demand. The Company suffered from high inventory of products not in demand with consumers and shortages of products that were in demand. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Target, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com

SOURCE: The Schall Law Firm

Target has lost $10 billion in market valuation over the last 10 days as the popular retailer continues to face backlash over its Pride-themed clothing line for children.

A week ago Wednesday, Target enjoyed its stock value at $160.96 a share, but following the calls to boycott the Minneapolis-based retailer over its “PRIDE” collection, the value plummeted and closed Friday at $138.93 a share.

The nearly 14% drop in value for the blue chip stock roughly translates to a $10.1 billion loss in valuation to just $64.2 billion for Target, which has nearly 2,000 stores nationwide.

The plummet stands as the retailer’s lowest stock price in nearly three years. The last time the company saw a drop nearly this big came in 2022 after the stocks equalized following an unprecedented surge during the COVID pandemic.

Target, which has been caught in the middle of America’s culture wars over gender, moved its Pride section in some Southern stores away from the front last week after it said displays were knocked over by protesters, who also confronted workers.

The retailer also said it would remove items from the collection, but did not specify which ones. Among the ones that garnered the most attention were “tuck-friendly” women’s swimsuits that allow trans women who have not had gender-affirming operations to conceal their genitalia, as well as rainbow-themed children’s clothing.

While many have likened the conservative boycott against Target to that of Bud Light – which saw sales crash after partnering with transgender influencer Dylan Mulvaney – Texas Sen. Ted Cruz doubted the backlash against the retailer would be as impactful.

Speaking on his podcast Friday, the Republican said that while multiple alternatives exist to replace Anheuser-Busch’s brands, the same is not so for Target.

He instead compared the retailer to Disney, which suffered backlash after speaking out against Florida’s so-called “Don’t Say Gay” law last year, but continues to be a financial giant.

“You can be annoyed at Disney but if your kids really want to go to Disney World, that can be hard to say no to. There are not a lot of alternatives. There’s Six Flags but Disney World is a pretty unique offering,” Cruz said.

“There’s only one Snow White or Cinderella or Toy Story from Pixar. That is a difficult product for many people to give up permanently.”

The Texas politician said the efforts against Target could quickly wilt because “historically, conservatives have typically been not very good at boycotts.”

Target CEO Brian Cornell has defended the LBGTQ-friendly merchandise, saying selling them was “the right thing for society.”

Target didn’t immediately return a request for comment Sunday.

Target NYSE: TGT reported a better-than-expected quarter driven by the underlying momentum within the US economy. That’s the good news. The bad news is that outlook is weak, echoing home improvement retailer Home Depot NYSE: HD, and gives further evidence of a looming recession in the US. While spending remains solid, consumer demand is weakening, and there is a shift as they cut out discretionary items in favor of food, shelter, and gasoline. 

This means a reduction to Target’s Q2 outlook that may foreshadow additional guidance reductions for the business and investors later in the year. The company is not in danger of failure, it has the positioning and resources to make it through the dark time, but investors should not expect a rally in this stock to hold if it forms, and there is a chance the market will retest lows set in 2022. 

Among the headwinds facing Target is shrinkage. Shrinkage is the polite form of shoplifting, cutting into margins. Shrinkage has been rising since late last year and is a sign of an increasingly pinched consumer. For Target, it means a weakening consumer and additional costs to prevent theft. 

“As we look ahead, we now expect shrink will reduce this year’s profitability by more than $500M compared with last year. While there are many potential sources of inventory shrink, theft and organized retail crime are increasingly important drivers of the issue,” CEO Brian Cornell said.

Target Has Better Than Expected Quarter But Guides Q2 Lower 

Target’s Q1 results were better than expected, but the news cannot offset the guidance and potential for additional reductions. The company reported $25.32 billion in revenue for a gain of 0.6% compared to last year to beat the Marketbeat.com consensus by $0.040. That’s a slim margin even when compounded by a better-than-expected profit margin. Comp-store sales are up 0.7% versus the 1.1% expected and were offset by a 3.4% decline in digital sales.  

Margin news is mixed, with gross margins improving by 70 basis points and SG&A offsetting that with an increase of 90 basis points. The takeaway is that operating income fell 1.4% compared to last year and the top-line growth, but the analysts were expecting worse results. The adjusted earnings came in at $2.05 compared to last year’s $2.19 but are $0.29 above consensus. 

The bad news is that Q2 guidance was reduced due to slowing consumer demand, and the FY guidance, which was maintained, is optimistic. The company expects Q2 earnings in a range of $1.30 to $1.70 compared to the $1.93 consensus figure and for this weakness to be offset by the Q1 strengths. The 2nd half of the year is expected to be as previously guided, which the market should not expect given the deteriorating near-term outlook.

The Technical Outlook: Target Is Trapped In A Range 

The Target price action is range bound and will likely remain so in 2023. The top is near $181, consistent with the analysts’ consensus target. That target has held steady over the last 3 months and may edge lower now that the guidance has been updated. Regardless, the stock is unlikely to move above the $181 level in 2023 until there is a positive change in the outlook for revenue and earnings. Until then, the odds of retesting support at the bottom of the range near $140 remain very high. If the market can’t get above the 150-day moving average near $163, the action may test the bottom of the range before it retests the top. 

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LOS ANGELES, CA / ACCESSWIRE / May 14, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Target Corporation (“Target” or “the Company”) (NYSE:TGT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between August 18, 2021 and May 17, 2022, inclusive (the “Class Period”), are encouraged to contact the firm before May 30, 2023.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected]

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Target’s strategy of over-ordering inventory to combat supply chain problems left it incapable of reacting to changes in consumer behavior. The Company failed to capitalize on the “massive influx of insights” during the pandemic by changing inventory to match demand. The Company suffered from high inventory of products not in demand with consumers and shortages of products that were in demand. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Target, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE: The Schall Law Firm

LOS ANGELES, CA / ACCESSWIRE / May 13, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Target Corporation (“Target” or “the Company”) (NYSE: TGT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between August 18, 2021 and May 17, 2022, inclusive (the “Class Period”), are encouraged to contact the firm before May 30, 2023.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected]

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Target’s strategy of over-ordering inventory to combat supply chain problems left it incapable of reacting to changes in consumer behavior. The Company failed to capitalize on the “massive influx of insights” during the pandemic by changing inventory to match demand. The Company suffered from high inventory of products not in demand with consumers and shortages of products that were in demand. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Target, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com

SOURCE: The Schall Law Firm

NEW YORK, May 5, 2023 /PRNewswire/ —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Target Corporation (NYSE: TGT) between August 18, 2021 and May 17, 2022, both dates inclusive (the “Class Period”), of the important May 30, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Target securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Target class action, go to https://rosenlegal.com/submit-form/?case_id=6812 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 30, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Target’s strategy for mitigating supply-chain constraints by over-ordering inventory had severely limited the Company’s ability to timely respond to evolving consumer behavior; (2) as a result, the purported “massive influx of insights” gained from the extraordinary heightened demand during the pandemic could not be leveraged by Target to react to rapidly changing trends; and (3) as a result of Target’s inability to timely react to changes in consumer trends, Target’s sales declined and the Company was left with an overabundance of inventory, forcing Target to take large markdowns, and severely impacting the Company’s financial results. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Target class action, go to https://rosenlegal.com/submit-form/?case_id=6812 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      [email protected]
      [email protected]
      www.rosenlegal.com

SOURCE Rosen Law Firm, P.A.

NEW YORK, May 3, 2023 /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  [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Target and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On May 18, 2022, Target announced results for the first fiscal quarter ended April 30, 2022.  Among other items, Target disclosed that gross margin for the quarter was 26.75%, down 426 basis points from the prior year.  Target attributed the decline to unanticipated changes in consumer spending, as well as higher supply chain costs.  Additionally, Target announced that inventory was $15.08 billion, up approximately $1.1 billion compared to fourth fiscal quarter of 2021, attributing the elevated inventories to changing consumer spending habits.  Finally, Target also revised its fiscal year 2022 outlook, lowering its fiscal 2022 guidance concerning operating margin to 6% from a margin rate of 8% or higher.  Target attributed the guidance reduction, in part, to unexpected cost headwinds. 

On this news, Target’s stock price fell $53.67 per share, or 24.93%, to close at $161.621 per share on May 18, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

SOURCE Pomerantz LLP

Did you lose money on investments in Target? If so, please visit Target Corporation Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or [email protected] to discuss your rights.

NEW YORK, May 1, 2023 /PRNewswire/ — Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the common stock of Target Corporation (“Target” or the “Company”) (NYSE: TGT) between August 18, 2021 and May 17, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of Minnesota and alleges violations of the Securities Exchange Act of 1934.

Target is a major retailer of five “core” product categories – apparel, food and beverage, essentials and beauty, home, and hardlines. These categories encompass a wide range of merchandise, such as school supplies, furniture, sporting equipment, and televisions. About one third of the products sold by Target are exclusive to the Company through private labels or owned brands.

Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period. Specifically, Plaintiff alleges that Defendants failed to disclose that: (i) Target’s strategy for mitigating supply-chain constraints by over-ordering inventory had severely limited the Company’s ability to timely respond to evolving consumer behavior; (ii) as a result, the purported “massive influx of insights” gained from the extraordinary heightened demand during the pandemic could not be leveraged by Target to react to rapidly changing trends; and (iii) as a result of Target’s inability to timely react to changes in consumer trends, Target’s sales declined and the Company was left with an overabundance of inventory, forcing Target to take large markdowns, and severely impacting the Company’s financial results.

On the morning of May 18, 2022, Target filed a Form 8-K with the SEC attaching a press release containing the Company’s financial and operating results for the first quarter ended April 30, 2022 (the “Q1 2022 Earnings Release”). The Q1 2022 Earnings Release revealed that Target had missed profit estimates widely, with cost of goods sold increasing 10% year over year and operating income declining to $1.3 billion from $2.4 billion in the prior year. In the filing, Target also revealed that its operating margin was “well below expectations, driven primarily by gross margin pressure reflecting actions to reduce excess inventory. . . .” Target further explained that the “gross margin rate reflected higher markdown rates, driven largely by inventory impairments and actions to address lower-than-expected sales in discretionary categories. . . .”

On this news, Target’s stock price fell $53.67 per share, or nearly 25%, to close at $161.61 per share on May 18, 2022.

If you wish to serve as lead plaintiff, you must move the Court no later than May 30, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased or acquired Target common stock, and/or would like to discuss your legal rights and options please visit Target Corporation Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:

Peter Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
[email protected]

SOURCE Bernstein Liebhard LLP

NEW ORLEANS, April 14, 2023 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 30, 2023 to file lead plaintiff applications in a securities class action lawsuit against Target Corporation (NYSE: TGT), if they purchased the Company’s shares between August 18, 2021 and May 17, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Minnesota.

What You May Do

If you purchased shares of Target and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-tgt/ to learn more. If you wish to serve as a lead plaintiff in the class action, you must petition the Court by May 30, 2023.

About the Lawsuit

Target and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On May 18, 2022, the Company announced its Q1 2022 financial results, disclosing among other things, a decrease in operating income to $1.3 billion from $2.4 billion in the prior year, a 40% drop in adjusted earnings, and a decrease in gross margin of nearly 4.3%, with approximately 3% of that due to “the combined impact of impairments, markdowns, and other actions taken to rightsize our inventory position in categories that were too heavy,” as well as a decrease in full-year 2022 operating margin guidance to “a range centered around 6%” from a margin rate of 8% or higher.

On this news, shares of Target plummeted nearly 25% or $53.67 per share, or from a closing price of $215.28 per share on May 17, 2022, to a closing price of $161.61 per share on May 18, 2022.

The case is Perez v. Target Corporation, et al., No. 23-cv-00769.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you may visit http://ksfcounsel.com/.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

SOURCE Kahn Swick & Foti, LLC

SAN DIEGO, April 8, 2023 /PRNewswire/ — The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Target Corporation (NYSE: TGT) common stock between August 18, 2021 and May 17, 2022, both dates inclusive (the “Class Period”) have until May 30, 2023 to seek appointment as lead plaintiff of the Target class action lawsuit. Captioned Perez v. Target Corporation, No. 23-cv-00769 (D. Minn.), the Target class action lawsuit charges Target as well as certain of Target’s top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Target class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-target-corporation-class-action-lawsuit-tgt.html

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: Despite Target’s runaway success in 2020, Target’s revenue was constrained by its inability to keep its shelves fully stocked. To mitigate the risk that replenishment of in-demand goods could take longer than usual going into the second half of 2021, Target announced that it had been ordering larger upfront quantities in advance of season to ensure that shelves were stocked with products consumers wanted, when they wanted them.

But as the Target class action lawsuit alleges, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Target’s strategy for mitigating supply-chain constraints by over-ordering inventory had severely limited Target’s ability to timely respond to evolving consumer behavior; (ii) consequently, the purported “massive influx of insights” gained from the extraordinary heightened demand during the pandemic could not be leveraged by Target to react to rapidly changing trends; and (iii) as a result of Target’s inability to timely react to changes in consumer trends, Target’s sales declined and Target was left with an overabundance of inventory, forcing Target to take large markdowns, and severely impacting Target’s financial results.

On May 18, 2022, Target revealed that contrary to defendants’ public statements, Target’s “durable, flexible” business strategy was thwarted by its practice of ordering inventory before it was needed, resulting in overstocked, unsellable inventory taking up valuable store shelf space and leaving Target unable to quickly pivot to meet changing consumer preferences as represented. This resulted in Target’s inventory increasing by nearly $1.1 billion over the previous quarter and overweight in “bigger, bulkier” hardline and home products that Target was now forced to mark down to “make room for fast-growing categories.” Thus, Target’s revenue and gross margin declined nearly 19% and 4.3%, respectively, for the quarter and defendants also admitted that they expected the excess inventory to negatively affect earnings into the next quarter. On this news, Target’s stock price declined by nearly 25%, damaging investors.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Target common stock during the Class Period to seek appointment as lead plaintiff of the Target class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Target class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Target class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Target class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Attorney advertising. 
Past results do not guarantee future outcomes. 
Services may be performed by attorneys in any of our offices. 

Contact:
Robbins Geller Rudman & Dowd LLP 
655 W. Broadway, Suite 1900, San Diego, CA 92101 
J.C. Sanchez, 800-449-4900 
[email protected] 

SOURCE Robbins Geller Rudman & Dowd LLP