Shareholder Sues Target Over ‘Billions’ Lost After Pride Campaign Backlash
America First Legal (AFL), a legal activist group, sued the 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.
We need more of this.
“Target Corporation … betrayed both Target’s core customer base of working families and its investors by making false and misleading statements concerning Target’s Environmental, Social and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) mandates that led to its disastrous 2023 children-and-family themed LGBTQ Pride campaign,” the lawsuit reads.
yep.
“In its 2022 and 2023 Proxy Statements, Target assured shareholders and investors that the Board was monitoring for social and political issues and risks arising from the company’s ESG and DEI mandates. However, management only cared whether its leftist ‘stakeholders’ were satisfied,”
So what did they do?
“Target’s now infamous children-and-family-themed LGBT-‘Pride’ marketing and sales campaign—which embroiled Target in the culture war and caused Target to experience the biggest stock decline in the company’s history, costing investors billions,” the lawsuit continues.
And were there not warning signs?
Bud Light experienced a similar backlash when … trans influencer, a personalized Bud Light can and made (it) a brand ambassador, which resulted in the company losing billions.
They knew such social and political issues in today’s marketplace is toxic (and will cost a corporation billions), and yet they did it anyway.
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