NEW YORK, June 23, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Target Corporation (“Target” or the “Company”) (NYSE: TGT). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Target and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 18, 2022, 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.” Just three weeks later, on June 7, 2022, 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 price fell $3.69 per share, or 2.31%, to close at $155.98 per share on June 7, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
