Stull, Stull & Brody is Investigating Claims on Behalf of Target Corporation’s (NYSE:TGT) 401(k) Plan
21 May 2016 - 9:00AM
Stull, Stull & Brody today announced that a securities fraud
complaint has been filed and that it has commenced an investigation
relating to the 401(k) defined contribution plan of Target
Corporation (NYSE:TGT) ("Target" or the "Company"). Among other
things, Stull, Stull & Brody is investigating whether
fiduciaries of Target's 401(k) plan violated the Employee
Retirement Income Security Act of 1974 ("ERISA") by offering Target
stock as an investment option under the plan when it was not
prudent to do so and by failing to disclose the Company's true
financial and operating condition to participants and beneficiaries
of the plan.
If you held Target stock in an individual account under any of
the Company's 401(k) plan during the last several years and have
questions about your legal rights or interests with respect to
these matters, please contact Michael Klein, Esq. at
Stull, Stull & Brody by e-mail at TGT@ssbny.com, by
calling toll-free 1-800-337-4983 x147, by fax to 1-212-490-2022, or
by writing to Stull, Stull & Brody, 6 East 45th
Street, New York, NY 10017. You can also visit our
website at www.ssbny.com.
The securities fraud action filed in the U.S. District Court for
the District of Minnesota focuses on whether, between February 27,
2013 and May 19, 2014, the Company and its executives violated
federal securities laws by making false and/or misleading
statements regarding the Company’s launch of its operations in
Canada. The securities fraud action alleges that Target failed to
disclose the following facts: (a) at the time of the opening of its
stores in Canada, it had significant problems with its supply chain
infrastructure, distribution centers, and technology systems; (b)
these problems caused significant issues, including excess
inventory at distribution centers and inadequate inventory at
retail locations; (c) this excess inventory at distribution centers
and lack of inventory at retail locations forced Target to heavily
discount products, incurring heavy losses; (d) these supply-chain
and personnel problems were atypical of newly launched locations in
Target’s traditional U.S.-based market; (e) as a result, statements
about Target, its financial condition, and the outlook for its
business lacked a reasonable basis.
You may retain Stull, Stull & Brody, or other counsel of
your choice, to represent you. Stull, Stull & Brody has
litigated many class actions for violations of securities laws in
federal courts over the past 40 years and has obtained court
approval of substantial settlements on numerous occasions. Stull,
Stull & Brody maintains offices in New York and
Beverly Hills.
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
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