Target Hospitality(US:TH) Prnewswire·2024-07-08 12:00Core Viewpoint - Target Hospitality is facing significant operational and financial challenges due to the U.S. government's decision to terminate its services agreement related to migrant programming, which will take effect in 60 days [1]. Group 1: Company Operations - The U.S. government intends to terminate the existing South Texas Family Residential Center services agreement with Target's migrant programming partner, effective in 60 days [1]. - Target Hospitality will provide updates to its operational and financial guidance in light of the termination notice and associated logistics [1]. Group 2: Market Reaction - Following the announcement, shares of Target Hospitality declined by $3.30 per share, representing a decrease of over 31%, closing at $7.20 per share on June 11, 2024, with unusually heavy trading volume [3]. Group 3: Legal Investigation - Kaskela Law LLC is investigating Target Hospitality on behalf of the company's shareholders to determine if there were any violations of securities laws or breaches of fiduciary duties by the company or its officers and directors [2][3].