NEW YORK, NY / ACCESSWIRE / March 29, 2023 / The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired common stock of Target Corporation ("Target") (NYSE:TGT) between August 18, 2021 and May 17, 2022, inclusive. You are hereby notified that the class action lawsuit Rafael E. Perez v. Target Corporation, et al. (Case No. 0:23-cv-00769) has been commenced in the United States District Court for the District of Minnesota. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500. There is no cost or obligation to you.
The complaint alleges that Target made materially false and/or misleading statements and/or failed to disclose: (i) the true extent of Target's difficulty maintaining a balanced inventory of in-demand goods, despite its insights into changing consumer preferences; (ii) that Target was severely impacted by changing consumer preferences; (iii) 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 (iv) 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.
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.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, Suite #427
New York, NY 10006
Tel: (212) 363-7500
SOURCE: Levi & Korsinsky, LLP