Problem:
By prioritizing woke ideology over financial accountability to its shareholders, Target misled both its customer base and investors through false and misleading statements regarding its Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) initiatives. This lack of transparency and accountability directly contributed to the missteps during Target’s May 2023 Pride Campaign, as the company failed to adequately disclose the risks associated with potential customer backlash against its ESG and DEI mandates, ultimately leading to significant backlash and reputational damage. As a result, Target witnessed a staggering decline in its stock price, erasing $25 billion in shareholder value within six months. This marked Target’s worst performance and longest losing streak in 23 years.
Action:
AFL and Florida Attorney General James Uthmeier, in partnership with Boyden Gray PLLC and Lawson Huck Gonzalez PLLC, filed a major class-action lawsuit against Target Corporation on behalf of the State Board of Administration of Florida. This is the second lawsuit AFL, Boyden Gray PLLC, and Lawson Huck Gonzalez PLLC brought against Target for securities fraud.
Result:
This case is currently being litigated.
