The shareholders filed a lawsuit against the goal on the pretext that the retail giant has intentionally misled investors about the risks posed by its diversity policies, property and integration rights (DEI) formed by stock prices.
In a collective suit It was presented in Florida on FridayThe Riviera Beach City pension fund claimed that Target shares are “artificially inflated” because the retail chain failed to transfer the scope of the consumer reaction to its initiatives that enhance diversity and the pride of LGBTQ.
In May 2023, target I launched a pride month campaign With many home commodities and clothes that celebrate the same. After the spread of wrong information about promotion by right -wing influencers, the company Remove some elements From its stores. The boycott affected after it affected the stock prices on the goal immediately, and continued to be shaky throughout 2024.
Target shares performance was bad over the past year compared to similar companies such as Walmart. Prosecutors say that the goal made “false and misleading” statements on how his social initiatives affect stock prices. The shareholders in the lawsuit demand that they paid raids for the target share, which provides “misuse of investor money in the company to serve political and social goals.” The lawsuit covers all shareholders who bought the targeted shares between August 26, 2022 and November 19, 2024.
Earlier this month, Declare He will “conclude its goals for three years and the diversity of stocks and integration.” The decision faced a widespread violent reaction from the progressive and described as “coward” and “curvature to the Trump administration” by the civil rights lawyer. Nekima Levy Armstrong.
Many supporters, who urged Armstrong’s feelings to potential target customers to convert their sponsorship to companies that have expressed their support for diversity and inclusion, such as Costco.
