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 -- January 15, 2014
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 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
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 (email@example.com) or KSF Partner Melinda
Nicholson (firstname.lastname@example.org) 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 individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, 1-877-515-1850
Melinda Nicholson, 1-877-515-1850
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