INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses in Excess of $100,000 from Investment in Target Corp. to...
May 24 2016 - 10:10PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the District
of Minnesota on behalf of purchasers of Target Corporation (NYSE:
TGT) (“Target” or the “Company”) common stock during the period
between February 27, 2013 and May 19, 2014, inclusive (the “Class
Period”). Investors with losses in excess of $100,000 who wish to
become proactively involved in the litigation have until July 18,
2016 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Target common stock during the Class Period. Members
of the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. No class has yet been certified in
the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that Target’s Canadian
expansion encountered operational problems from the start.
According to the complaint, following an August 21, 2013
announcement of weak guidance for full-year earnings per share for
2013, a November 21, 2013 release of downbeat results for the third
quarter of 2013, including news that the Company’s Canadian segment
has suffered a drop in operation margin due to need to discount
merchandise, a May 5, 2014 announcement that the Company’s Chief
Executive Officer would leave the Company, and May 20, 2014 news
reports that Target had fired Tony Fisher, the Company’s president
of Canadian operations, confirming that the string of weak results
from Target’s Canadian operations preceding Mr. Fisher’s
termination were not simply growing pains associated with normal
store openings, but rather were due to significant undisclosed
operational issues, the value of Target shares declined
significantly.
If you have suffered a loss from investment in Target common
stock purchased on or after February 27, 2013 and held through the
revelation of negative information during and/or at the end of the
Class Period and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Brower Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20160524006719/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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