• July 24, 2024

Lawsuit Filed Against Target For “Misleading Shareholders” After The….

Target is being sued by America First Legal in federal court for “misleading statements to shareholders about monitoring political/social risks, resulting in a $12B loss due to its recent promotion of queer/transgender propaganda to children.”

In reference to the 2022/2023 Proxy Statements that assured the Board was “monitoring social and political issues,” America First Legal, which is helmed by former Trump Senior Advisor Stephen Miller, asserts that management “only cared whether its leftist’ stakeholders were satisfied.”

Here is more from their Press Release:

In its 2022 and 2023 Proxy Statements, Target assured shareholders and investors that the Board was monitoring for social and political issues and risks arising from the company’s ESG and DEI mandates. However, management only cared whether its leftist “stakeholders” were satisfied, disregarding the possibility that its customers and shareholders might feel differently. Thus, in May 2023, Target embraced the radical transgender agenda with its children-and-family-themed “Pride” marketing and sales campaign – the corporation’s infamous “Pride” collection included clothing for young children with rainbow Mickey Mouse symbols, LGBT-themed bibs and onesies for babies, and “tuck-friendly” bathing suits for “transgender women.” This predictably caused more than a $12 billion collapse in share value, the largest stock price decline in over 20 years.

Also, Target’s management has adopted “supplier diversity” targets, including a majority of collections to be made by “LGBTQIA+ creators and brands” in 2022, and engaged in the odious and illegal practice of race-based hiring by adopting a plan to increase its “representation of Black team members across the Company by 20 percent.”

Back in May 2023, when it was discovered that Target was selling items from a satanic transgender designer who advocates drugs and violence, the company faced intense criticism.

Target came under further scrutiny when it was discovered they were selling “chest-binding” and “tuck-friendly” bathing suits, although those were not marketed to children but an ad photo of a seemingly teenage girl was on their website according to this photo from the NY Post.

The AP claims a Target spokesperson said the “swimsuits are only offered in adult sizes” and that “Kids’ swimsuits in the collection do not feature this label.”

A Twitter thread from America First Legal is also available here.

Erik, the creator, and designer of the Target Pride collection and Abprallen.

 

The Daily Allegiant