|[January 15, 2014]
TARGET INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Target Corp. Following Data Breach and Filing of Consumer Class Action Lawsuit
NEW ORLEANS --(Business Wire)--
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces
that KSF has commenced an investigation into Target (News - Alert) Corp. (NYSE: TGT).
On December 19, 2013, Target acknowledged that a data hack occurred at
U.S. Target Stores between November 27 and December 15, 2013, exposing
as many at 40 million credit and debit card customers to potential
fraud. On December 27, 2013, Target stated that the ongoing forensics
investigation into the data breach revealed that encrypted debit card
PIN information was accessed during the breach. On January 10, 2014,
Target revealed that 70 million customers had their personal information
stolen during the holiday data breach. Target also lowered its outlook
for its fiscal fourth quarter, stating that sales were "meaningfully
weaker-than-expected" after news of the data breach was disclosed.
Then, on January 14 2014, it was announced that a proposed consumer
class-action lawsuit has been filed against Target. The lawsuit alleges
that Target ignored warnings from as early as 2007 that the Company's
point-of-sale system was vulnerable to attack, putting the financial
information of consumers at risk.
KSF's investigation is focusing on whether Target's officers and/or
directors breached their fiduciary duties to Target's shareholders or
otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or
have been a long-term holder of Target shares and would like to discuss
your legal rights, you may, without obligation or cost to you, e-mail or
call KSF Managing Partner Lewis Kahn (firstname.lastname@example.org)
or KSF Partner Melinda Nicholson (email@example.com)
toll free at 1-877-515-1850.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities class action
and shareholder derivative litigation with offices in New York and
Louisiana. KSF's lawyers have significant experience litigating complex
securities class actions nationwide on behalf of both institutional and
To learn more about KSF, you may visit www.ksfcounsel.com.
[ Back To Technology News's Homepage ]