Reported about 3 hours ago
Target is facing a lawsuit from shareholders, led by the City of Riviera Beach Police Pension Fund, for allegedly hiding the risks associated with its diversity and social initiatives, which resulted in customer backlash and a significant drop in stock value. The lawsuit claims that CEO Brian Cornell and other officials failed to inform investors about the potential for consumer boycotts related to the company's DEI efforts, particularly following negative reactions to its 2023 Pride Month campaign. Shareholders seek damages for losses incurred from August 2022 to November 2024.
Source: YAHOO