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Florida files suit against Target, claiming DEI initiatives 'misled investors'

Florida's Attorney General James Uthmeier filed a lawsuit against Target, alleging that the company 'misled investors' regarding its diversity, equity, and inclusion initiatives, which he claims hurt sales and cost shareholders.
Uthmeier contends that Target violated the Securities Exchange Act by not disclosing 'the known risks' of its DEI initiatives.
Target announced plans to end a program supporting Black employees and businesses, following backlash against its diversity policies.
Uthmeier indicated that corporations promoting 'radical leftist ideology' could jeopardize retirement security for Florida's first responders and teachers.

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Michigan Advance

Florida files investor lawsuit against Target for 2023 Pride campaign • Michigan Advance

The Target store on West Tennessee St. in Tallahassee on Dec. 31, 2024. (Photo by Jay Waagmeester/Florida Phoenix)A few days after being named attorney general, James Uthmeier filed a class action against retail giant Target Thursday, claiming it defrauded investors in the process of promoting “radical LGBTQ activism.” The suit focuses on the Minnesota-based company’s 2023 Pride campaign, a product collection in advance of Pride Month. The colle…

12 hours ago

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The Western Journal

Target Finds Itself in Hot Water After Letting DEI Creep In, Florida Files Suit

Florida Attorney General James Uthmeier has a plan to go after Target, alleging its business practices hurt the states’ retirement fund. Uthmeier posted a video to social media platform X […] The post Target Finds Itself in Hot Water After Letting DEI Creep In, Florida Files Suit appeared first on The Western Journal.

12 hours ago·Phoenix, United States

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The Advocate

Florida's new Attorney General sues Target for selling products for LGBTQ+ youth

The Ron DeSantis appointee said the retailer's policies crashed its stock price and hurt Florida's pension fund.

12 hours ago·Los Angeles, United States

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Quartz

Target is facing another big DEI lawsuit

Target (TGT) was hit with another lawsuit on Thursday, this time by the state of Florida, which accused the retail giant of hiding the risks tied to its diversity, equity, and inclusion (DEI) efforts. The state claims these initiatives sparked a customer backlash that erased billions of dollars from Target’s market…Read more...

13 hours ago·United States

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The Business Journals

Target sued by Florida attorney general over DEI efforts, 2023 Pride Month collection

Shareholder lawsuits over corporate diversity initiatives have grown more common in recent years, but they're usually filed by activist investors or political groups. This may be the first such case from a U.S. state.

15 hours ago·United States

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The Capitolist

State Board of Administration Sues Target, Alleging Securities Fraud Over ESG and DEI Disclosures

The State Board of Administration of Florida (SBA) on Thursday joined a class action lawsuit against Target, its Chief Executive Officer and Chairman Brian Cornell, and 12 members of its Board of Directors, alleging violations of federal securities laws related to the company’s environmental, social, and governance (ESG) and diversity, equity, and inclusion (DEI) initiatives.…

17 hours ago

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