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TGT.US
id: 800
Target (TGT) LGBTQ Merchandise Backlash Case
M.D. Florida
Court2:23-cv-00599
Case number06 Oct 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
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
31 May 2023
Filing date
08 August 2023
Lead Plaintiff Deadline
06 October 2023