Target(US:TGT) Prnewswire·2025-03-05 15:58Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Target Corporation due to alleged violations of federal securities laws, particularly related to misleading statements about its ESG/DEI initiatives and the impact on its stock price [2][4]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi is encouraging investors who suffered losses in Target between August 26, 2022, and November 19, 2024, to discuss their legal rights [1]. - There is an April 1, 2025, deadline for investors to seek the role of lead plaintiff in a federal securities class action against Target [2]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. Group 2: Allegations Against Target - The complaint alleges that Target and its executives made false and misleading statements and failed to disclose risks associated with its ESG/DEI initiatives, leading to an artificially inflated stock price [4]. - Target's stock price fell from $125.05 on August 15, 2023, to $105.01 by October 6, 2023, following the Q2 2023 earnings report that revealed negative impacts from a campaign [5]. - On November 20, 2024, Target reported GAAP-adjusted earnings per share of $1.85, down from $2.10 in the same quarter of 2023, marking an 11.9% decline, which caused the stock to drop 22% from $156 to $121.72 [6]. Group 3: Participation and Information Gathering - The court-appointed lead plaintiff is the investor with the largest financial interest who directs the litigation on behalf of the class, and any member can move to serve as lead plaintiff [7]. - Faruqi & Faruqi encourages anyone with information regarding Target's conduct, including whistleblowers and former employees, to contact the firm [8].