Summary
Florida Attorney General James Uthmeier filed a lawsuit against Target, alleging that the retailer misled investors by promoting its diversity, equity, and inclusion initiatives.
The suit contends that Target’s previous DEI efforts, including its Pride month merchandise, sparked backlash that harmed sales and shareholder returns.
Uthmeier, appointed by Gov. Ron DeSantis, claims the company violated the Securities Exchange Act by failing to disclose the known risks associated with its DEI strategy.
He vowed to use the state’s legal power to challenge what he described as “offensive political theatre” and push for an America-first corporate agenda.
Right… And that’s why Costco, which has not rolled back their DEI has been seeing pretty decent growth while Target has been slowly dropping since they started rolling it all back. They’re all lying to us to make it feel like this is a bad thing because they want to get rid of it, even though the actual numbers show the exact opposite. It’s the idea of being louder to make yourself seem smarter. And now we get to watch the economy tank as everyone in charge tells us it’s all good.
We have always been at war with Eastasia
East Asia is our greatest and longest Ally. We have always been at war with Eurasia. Remove such unthought from your head or report to the mintruth for processing.
It’s funny considering recent lawsuits showing the exact opposite.
Don’t be fooled into thinking this is about money. Fascists don’t care about capitalism, scummy as capitalism is. Fascists only care about hurting people they think are weaker than them.
Costco is next, which is even funnier because Costco stock is on a roll.
So wait a damn minute here. Target, a MN company, had (past tense) an expansive DEI program that they recently scrapped following along with the trend from multiple other outfits.
Unlike many other places the public actually got mobilized in some level to show they’re pissed off at Target for ditching the program and refusing to shop there.
NOW the FL attorney general decided they should try and file a suit against them for being ‘woke’?
What kind of backwards response is that? It hardly even makes sense from a political theater perspective much less in any practical way. Fascists, still unable to find their own ass with both hands and a flashlight…
Edit: It occured to me that as conspiratorial as it sounds it’s possible Target begged for this treatment to try and gain some sympathy points for being picked on by the big bad far right. Give the people someone else they already hate to point at and maybe some ‘forget’ that you the company just gave a big FU to a sizable portion of your customers/employees/suppliers.
The only thing they’re responding to is the stock value going down.
What kind of backwards response is that?
Have you met a conservative? It’s not even a fat right thing lmao
Idk, this recent target change feels too recent. Is there evidence that their DEI rollback has received a bunch of backlash? I don’t think putting themselves in this situation would bring back sympathy compared to any other number of things that don’t involve legal troubles.
I’m betting this is the rights way of making an example of a DEI company, “you ever do this, we will come after you, whether you undo it later or not”
I’ve been pushing more to spend at Costco and less at Target. These recent announcements have me leaning even harder into that previous plan. Before I Was ambivalent about Target, now Ill generally go out of my way to avoid it.
Pride disinvited them after their pullback, and there has been plenty of chatter of people moving to Costco. Recent CNN piece talks about it as well.
Things are looking good. As the article states, there will still need to be more time before we see if it has a longer term financial impact.
I appreciate the link!
Florida! Long time no batshit! Ha ha, j/k of course.
This isn’t even the craziest story from florida this week, did you miss the story of the Floridian terrorist who shot an Israeli tourist thinking they were Palestinian earlier this week?
I guess DeSantis has been quiet aver since he was destroyed by trump but the people of Florida have been maintaining there reputation.
That was this week?? Jesus Christ, I want off this ride. So much has happened that I thought it was last week.
Nah, this is crazier. Ignore the DEI angle and this is a state suing a company for the crime of not being profitable. That’s way more out of the norm than a racist gunman shooting people because he’s racist.
Eh, not really, ags sue companies all the time for not acting in there shareholders interests. It’s usually more along the lines of the CEO giving a contract to his buddy that costs the company more, but any time a public for profit company pursues some interest other than maximizing shareholder value they open themselves up for a lawsuit. It could be a purely nepotistic or self dealing interest, or it could be your interest in justice, if it’s not about making money and you didn’t disclose to the shareholders that your decision is not about making money you have defrauded them who are invested solely to make money.
It’s a reading of the fiduciary duty of loyalty that most companies and courts have come to accept, if you knowingly do something to decrease shareholder value for some personal interest than you can be sued for it. This is the reason public benefit companies exist, so you can pursue noble causes like dei or fighting climate change that may reduce profits, without risking a lawsuit.
This can be used for good such as in the case of the 2021 McDonald’s shareholder lawsuit that alleged it’s failure to address rampant sexual harassment caused a loss of reputation and shareholder value. Ironically as a result it implemented a DEI program to address the problems…
The problem with the lawsuit is that they have to prove the dei stuff was about some ideology of the board and not about making money. Which will be hard to prove because at the time forecasts probably would’ve showed that embracing dei would increase profits. Even today they probably made more money off the rainbow merch then they lost.
Yeah, it’s still very Florida.
That many people shouldn’t be that hot that close together, I think.
So privately owned businessess are only free to make their own choices as long as those choices are to discriminate? Small government was obviously never the goal.
Huh, who has the popcorn?
“You failed to adequately inform your investors about the risk of me.”
Guess I’m going out of my way to shop at Target now.
Nah, fuck Target.
They pulled pride merch and preemptively cancelled their DEI program and their initiative to buy from Black-owned businesses.
They don’t deserve your business any more than Walmart or Amazon.
Just because you’re getting targeted by an asshole doesn’t mean you don’t suck.
They caved shortly after inauguration and dropped their DEI programs.
God dammit, this is the worst fucking timeline I’ve tried so far.
