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On Tuesday, America First Legal (AFL), together with co-counsel Boyden Gray PLLC and Lawson Huck Gonzalez PLLC, filed an amended complaint in its lawsuit against Target Corporation and its Board of Directors. The lawsuit is brought on behalf of a group of shareholders for Target’s misleading representations about its Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) mandates that betrayed Target’s customers and shareholders and caused investors to lose billions of dollars.
The amended complaint:
- Adds four new Plaintiffs who have come forward since filing the original complaint, who have also suffered financial losses and want to hold the Board and CEO accountable;
- Adds new details about how Target’s leadership catered only to the perceived risks of not meeting “stakeholder” demands–which really are just the demands of radical, leftwing activists–and ignored their duty to shareholders;
- Adds new information about the increased focus on the 2023 Pride campaign and how Corporate Leadership pushed the stores to prominently feature very provocative and controversial items in the fronts of stores;
- Adds new legal claims, including that Target and its CEO misled investors as to the true scope of the customer backlash to Target’s 2023 “Pride” campaign after it began.
Read the lawsuit here.
