Target (TGT) LGBTQ Merchandise Backlash Case

M.D. Florida

Court

2:23-cv-00599

Case number

10/06/2023

Lead Plaintiff motion deadline

In May Target faced backlash over LGBTQ-themed merchandise.
$TGT fell nearly 15%, losing billions of shareholder value. 
Investors suspect Target of divisive ESG and DEI mandates, causing backlash from working families, and misleading risk monitoring after LGBTQ-themed merchandise backlash.
Target faced backlash on social media following their pride display that popped up in stores towards the end of May, with some taking to the internet saying they were going to boycott the store due to the pro-LGBTQ+ campaign.

Because of this situation, $TGT fell 15% in May, seriously damaging shareholders.

Investors have reasons to suspect Target & its Accountables of adopting divisive and extreme ESG and DEI mandates which exposed it to backlash from its core customer base of working families, such as race-based hiring quotas and a recent Pride Month campaign which drew significant coverage and misrepresenting the adequacy of its risk monitoring when customer backlash over LGBTQ-themed merchandise caught it by surprise.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Failure to Disclose,

Negligence,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

05/31/2023

Filing date

08/08/2023

Lead Plaintiff Deadline

10/06/2023

Target (TGT) LGBTQ Merchandise Backlash Case

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