The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Minnesota on behalf of investors who purchased Target Corporation (NYSE: TGT) common stock between August 18, 2021 and May 17, 2022.
According to the Target lawsuit, throughout the Class Period defendants made 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.
If you suffered a loss in Target you have until May 30, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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