Target Faces Lawsuit over Concealed Diversity and Social Initiatives
Florida's State Board of Administration has filed a lawsuit against Target Corporation, alleging the company's undisclosed diversity and social initiatives triggered a customer backlash that led to a decline in stock price.
The lawsuit, filed in federal court in Fort Myers, Florida, claims Target violated Florida law by concealing the risks associated with its efforts to promote social justice, diversity, and inclusion. As a result, the lawsuit alleges, Target's shareholders suffered financial losses.