merica First Legal (AFL), a legal activist group, sued Target Corporation and its board of directors on behalf of a Target shareholder, alleging the company misled shareholders and lost investors billions, according to a new lawsuit.
Target announced a Pride collection in May 2023 that marketed LGBTQ-themed clothing to kids including onesies with the transgender flag and LGBTQ-themed books for children which resulted in a boycott of the store and the company’s stock losing billions. The lawsuit alleges that Target’s Diversity, Equity and Inclusion (DEI) and Environmental, Social and Governance (ESG) policies weren’t designed to benefit all shareholders and only benefited an ideological agenda, ignoring past DEI-related company failures such as Bud Light’s loss in sales due to hiring an LGBTQ ambassador.
Join the conversation as a VIP Member