According to the lawsuit, Target misled investors by making false and misleading statements about Target’s Environmental, Social and Governance (“ESG”) and Diversity, Equity, and Inclusion (“DEI”) mandates that led to widespread customer boycotts following Target’s 2023 LGBT-Pride Campaign (the “Campaign”). The negative effects of the Campaign on Target’s business, including a subsequent campaign in 2024 (the “2024 Campaign”), led to a massive decline in Target’s stock price.
Specifically, the Campaign offended certain Target customers, provoking consumer backlash and boycotts that caused Target’s sales to fall for the first time in six years. Unbeknownst to investors, and contrary to Target’s public statements, its CEO and Board of directors did not oversee or disclose the known risks of Target’s 2023 or 2024 Campaigns. This deceit, through misleading statements in Target’s public filings, caused Target investors to purchase Target stock at artificially inflated prices.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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