Florida’s new attorney general has filed a federal lawsuit against Target, claiming the discount store chain “misled investors” by promoting diversity, equity and inclusion initiatives that prompted a backlash and ultimately cost shareholders.

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.

  • TehWorld@lemmy.worldEnglish
    2·
    13 hours ago

    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.