WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Target Corporation (NYSE: TGT) resulting from allegations that Target may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Target securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=6810 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
WHAT IS THIS ABOUT: On May 18, 2022, before trading hours, Target announced its first quarter 2022 financial results in a press release. The Company also provided guidance, expecting second quarter 2022 “operating income margin rate [to] be in a wide range centered around first quarter’s operating margin rate of 5.3 percent.”
On this news, Target’s stock price fell $53.67 per share, or over 25%, to close at $161.61 per share on May 18, 2022, on unusually heavy trading volume.
Then, just three weeks later, on June 7, 2022, before trading hours, Target revised its guidance, expecting the second quarter 2022 operating margin rate to “be in a range around 2%.” The Company attributed the change to “a set of actions to right-size [Target’s] inventory for the balance of the year[.]”
On this news, Target’s stock fell $3.69, or 2.3%, to close at $155.98 per share on June 7, 2022.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220608005884/en/
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827