New York, New York--(Newsfile Corp. - May 30, 2023) - Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Target Corporation ("Target" or the "Company") (NYSE: TGT) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Target common stock between August 18, 2021 and May 17, 2022, inclusive (the ''Class Period''). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/tgt.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The complaint alleges that Target made materially false and/or misleading statements and/or failed to disclose: (1) the true extent of Target's difficulty maintaining a balanced inventory of in-demand goods, despite its insights into changing consumer preferences; (2) that Target was severely impacted by changing consumer preferences; (3) that 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 (4) that, 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.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/tgt or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. 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.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161872
