8th Circuit Panel Affirms District Court’s Dismissal Of Target Stock-Drop Claims

Mealey's (April 13, 2020, 1:25 PM EDT) -- ST. PAUL, Minn. — A federal judge did not err in dismissing a shareholder class action against retailer Target Corp. and certain of its current and former executive officers because a pension fund failed to show that the defendants acted with the required mental state and failed to plead falsity in alleging that the defendants concealed supply chain information technology (IT) issues related to Target’s expansion into Canada in violation of federal securities laws, an Eighth Circuit U.S. Court of Appeals panel ruled April 10 (In re Target Corp. Securities Litigation, No. 18-1831, 8th Cir., 2020 U.S. App. LEXIS 11326)....