Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Target Corporation to Contact Brow...
May 18 2016 - 11:15PM
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.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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