Florida’s attorney general has filed a class action lawsuit against Target, alleging the retailer knowingly misled investors about its Diversity, Equity, and Inclusion policies. The lawsuit claims Target actively monitored left-wing activist groups’ reactions rather than potential risks to its business.
The case stems from Target’s 2023 Pride merchandise campaign, which included items targeting children and was met with significant backlash. The retailer’s stock price plummeted 22% in November 2024, wiping out $16 billion in market capitalization.
Target is also facing another class action lawsuit filed by the City of Riviera Beach Police Pension Fund in Florida, alleging misuse of investor funds for “political and social goals.” This case is separate from the one filed by Florida’s attorney general.
Source: https://www.foxbusiness.com/media/florida-ag-files-class-action-lawsuit-against-target-over-pride-displays-dei-policies