SAN DIEGO, April 02, 2023 (GLOBE NEWSWIRE) — Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Target Corporation 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 in the Target class action lawsuit. Captioned Perez v. Target Corporation, No. 23-cv-00769 (D. Minn.), the Target class action lawsuit charges Target and 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://ift.tt/l7oGWeJ
You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.
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…
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