NEW YORK, March 30, 2023 (GLOBE NEWSWIRE) — Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Target Corporation (NYSE: TGT) (“Target” or the “Company”) for violations of the federal securities laws on behalf of investors who purchased or otherwise acquired Stanley securities between August 18, 2021 and May 17, 2022, both dates inclusive (the “Class Period”).
On March 29, 2023, a Complaint was filed against the Company and Certain of its officers alleging that Defendants made materially false and/or misleading statements because they misrepresented and failed to disclose the following adverse facts pertaining to Target’s business, operations, and prospects: (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.
When investors learned the truth, Target’s common stock declined precipitously, injuring investors.
If you suffered a loss in Target’s securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7234 or via email at [email protected].
Any investor who wishes to serve as Lead Plaintiff must act before May 30, 2023.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Lowey Dannenberg P.C.
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White Plains, NY 10601
Tel: (914) 733-7234
Email: [email protected]
SOURCE: Lowey Dannenberg P.C.