A lawsuit accusing Target of misleading shareholders following sales of its 2023 Pride Collection is set to move forward after the retail giant failed to have it dismissed in a Florida court.
The lawsuit had enough information to back accusations that Target deceived investors and customers about the social and political risks to the Pride-themed push, according to a report citing U.S. District Judge John Badalamenti.
The retail giant concentrated on LGBT-centered activism while overlooking serious negative responses to the 2023 campaign, the suit alleges.
“A lawsuit against Target over its controversial 2023 Pride Collection can move forward, a Florida judge has ruled…
‘Target embraced a radical transgender agenda targeting children and families through the corporation’s infamous 2023 “Pride” campaign,’ conservative group… pic.twitter.com/m23mdUOX8K
— America First Legal (@America1stLegal) December 6, 2024
“Target assured shareholders that it was monitoring for political and social issues and risks that could arise as a result of the ESG and DEI policies. However, management only cared when leftist ‘stakeholders’ cared about these business decisions,” a statement from America First Legal, the conservative group that filed the lawsuit in August 2023, read.
“Following Target’s May 2023 embrace of the radical transgender agenda, Target shares have seen more than a $12 billion collapse in value, the largest stock price decline in over 20 years.”
Target’s campaign toward a “radical transgender agenda targeting children and families” generated a backlash and consumer boycott that cost billions in losses, American First Legal said in a statement posted to X.
America First Legal believes their action will serve as a “warning to publicly traded corporations’ boards and management.”
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The lawsuit will move forward as “Merry Christmas” have been spotted in Target locations across the country, appearing to end the push for LGBT-themed holiday decorations.
Nice job @Target! Merry Christmas! 🎅🏻🎄🇺🇸 this was taken inside the store in Falls Church, Virginia. #merrychristmas #tistheseason #blackfriday #shopping #retail #holidays pic.twitter.com/aaOItufMZK
— Maria Leaf (@MariaLeaf) November 26, 2024
Last year, the company’s Christmas products included gay Santas and LGBT-themed nutcrackers.