PHILADELPHIA--(BUSINESS WIRE)--Kaskela Law LLC announces that it is investigating Target Hospitality Corp. (NASDAQ: TH) on behalf of the company’s shareholders.
On June 11, 2024, Target Hospitality disclosed that “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.” The company further reported that, given the notice of termination “and the remaining operational logistics associated with the notice,” Target Hospitality would be providing updates to its operational and financial guidance.
Following this news, shares of Target Hospitality’s common stock declined $3.30 per share, or over 31% in value, to close on June 11, 2024 at $7.20 per share, on unusually heavy trading volume.
The investigation seeks to determine whether Target Hospitality and/or the company’s officers and directors violated the securities laws or breached their fiduciary duties to the company’s shareholders.
Target Hospitality shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 or (888) 715 – 1740 for additional information about this investigation and their legal rights and options, or by clicking on the following link (or if necessary, copying and pasting the link into your browser):
https://kaskelalaw.com/case/target-hospitality/
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
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