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TGT.US
id: 649, Created by Stan Vick Chase, Scout
Join Target Corporation (TGT) Case on Misleading to Fight Losses
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
- Target widely missed profit estimates.
- $TGT dropped 25% and lost about $24.7B of its market cap.
- Investors suspect $TGT & its officers of misleading which led to investment losses.
On May 18, 2022, Target filed a press release containing the Company’s financial and operating results for Q1 2022 which revealed that Target had missed profit estimates widely, with cost of goods sold increasing 10% year over year and operating income declining to $1.3 billion from $2.4 billion in the prior year.
- Target also revealed that its operating margin was “well below expectations, driven primarily by gross margin pressure reflecting actions to reduce excess inventory….”
- Target further explained that the “gross margin rate reflected higher markdown rates, driven largely by inventory impairments and actions to address lower-than-expected sales in discretionary categories….”
- On an earnings call for investors CFO, Fiddelke noted that Target’s gross margin for the quarter was down nearly 4.3%, with approximately 3% of the 4.3% decline due to “the combined impact of impairments, markdowns, and other actions taken to rightsize our inventory position in categories that were too heavy….”
- CEO, Cornell attributed the excess inventory to Target’s inability to anticipate the pace at which consumers “continued refocusing their spending away from goods and into services.”
On this news, the $TGT price declined almost 25% and the Company lost about $24.7B of its market capitalization, seriously damaging investors.
Taking revealed facts and previous representations into account, Investors have reasons to suspect $TGT and its officers of misleading and financial misrepresentations which led to investment losses.
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
18 May 2022
Case number
23-CV-00769
Filing date
29 March 2023
Class period Start
18 August 2021
Class period End
17 May 2022
Lead Plaintiff Deadline
29 May 2023
Court
District of Minnesota
Judge
Hon. Patrick J. Schiltz
Collecting participants…
Case history
Stan Vick
19 May 2023
- Several affected Target Corp. (TGT) Investors have already joined the Case.
- Several reputable Law Firms have expressed interest to represent the Case vs. Target in court.
- An initial Complaint was filed in the court of the District of Minnesota.
Subsequently, more affected investors are expected to join the Case and interested attorneys commit their support, further strengthening the Case.