February 4, 2025
Great companies with the most sophisticated boards will sometimes disappoint stakeholders. In our increasingly chaotic economic and political business environment, some customers, employees, regulators or investors will feel betrayed and act. This class action was filed against Target and thirteen of its Directors. In May 2023, Target faced immense customer backlash to its ambitious LGBT- “Pride Month” marketing and sales campaign, one of its featured ESG/DEI initiatives. […] The Complaint alleges that during the Class Period, Target failed to warn investors of risks associated with its mandates regarding its ESG/DEI initiatives and that this deceit, through misleading statements in the Company’s public filings, caused Target’s investors to purchase Target stock at artificially inflated prices and to unknowingly support Target’s Board and management in their misuse of investor funds to serve political and social goals.