- Florida is suing Target, accusing the retail giant of hiding from its investors the financial hit it took from its Diversity, Equity and Inclusion (DEI) initiatives, particularly, an LGBTQ+ merchandise campaign. The lawsuit, led by freshly confirmed Attorney General James Uthmeier, comes in the midst of growing pushback against DEI initiatives conservatives nationally, including President Donald Trump.
- In the lawsuit on Thursday, Florida officials argue Target violated the Security Exchange Act by failing to warn investors of the pending backlash from its DEI and Pride Month campaigns.
- Target launched a Pride campaign in 2023, which included LGBTQ+ apparel and other items.
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Florida is suing Target, accusing the retail giant of hiding from its investors the financial hit it took from its Diversity, Equity and Inclusion (DEI) initiatives, particularly, an LGBTQ+ merchandise campaign.
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The lawsuit, led by freshly confirmed Florida Attorney General James Uthmeier, comes in the midst of growing pushback against DEI initiatives from conservatives nationally, including President Donald Trump.
What does the lawsuit stem from?
Target launched a Pride campaign in 2023, which included LGBTQ+ apparel and other items. The move drew backlash from conservatives including boycotts, which led to the company removing some items from its stores.
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Who does Florida claim was harmed?
Florida’s State Board of Administration, which manages public retirement funds, filed the lawsuit with conservative advocacy group America First Legal.
The plaintiffs said Target’s failure to disclose financial losses from the initiatives directly hurt shareholders.
How are others responding?
Uthmeier accuses Target of pushing a “radical left ideology at the expense of financial returns.”
Executive Vice President of the Foundation for Individual Rights Nico Perrino raised concerns that the lawsuit violates free speech. Perrino wrote on X, if “Florida gets its way, the government will control books, and clothing that companies can sell and marketing campaigns they run.”
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What is the bigger picture?
As Straight Arrow News recent reported, Target’s share prices fell by more than 20% in November 2024.
A separate lawsuit from Target shareholders is also ongoing against the company, which accuses the retailer of failing to predict backlash against its DEI initiatives in 2023.
The lawsuits come after Target announced in late January 2025 it would end its DEI initiatives in 2025.
Tags: DEI, Diversity and inclusion programs, Donald Trump, First Amendment, Florida, Free Speech, Lawsuit, LGBTQ, LGBTQ Rights, Pride, Republicans, Ron DeSantis, Target
[CRAIG NIGRELLI]
FLORIDA IS SUING TARGET, ACCUSING THE RETAIL GIANT OF HIDING FROM ITS INVESTORS THE FINANCIAL HIT IT TOOK FROM ITS DIVERSITY, EQUITY AND INCLUSION INITIATIVES, PARTICULARLY AN L-G-B-T-Q-PLUS MERCHANDISE CAMPAIGN.
THE LAWSUIT, LED BY FRESHLY CONFIRMED ATTORNEY GENERAL JAMES UTHMEIER, COMES IN THE MIDST OF GROWING PUSHBACK AGAINST D-E-I INITIATIVES FROM CONSERVATIVES NATIONALLY, INCLUDING PRESIDENT DONALD TRUMP.
IN THE LAWSUIT THURSDAY, FLORIDA OFFICIALS ARGUE TARGET VIOLATED THE SECURITY EXCHANGE ACT BY FAILING TO WARN INVESTORS OF THE PENDING BACKLASH FROM ITS D-E-I AND PRIDE MONTH CAMPAIGNS.
TARGET LAUNCHED A PRIDE CAMPAIGN IN 2023, WHICH INCLUDED L-G-B-T–Q-PLUS APPAREL AND OTHER ITEMS.
THE MOVE DREW BACKLASH FROM CONSERVATIVES INCLUDING BOYCOTTS, WHICH LED TO THE COMPANY REMOVING SOME ITEMS FROM ITS STORES.
FLORIDA’S STATE BOARD OF ADMINISTRATION, WHICH MANAGES PUBLIC RETIREMENT FUNDS, FILED THE LAWSUIT WITH CONSERVATIVE ADVOCACY GROUP AMERICA FIRST LEGAL.
THE PLAINTIFFS SAY TARGET’S FAILURE TO DISLOSE FINANCIAL LOSSES FROM THE INITITIATIVES DIRECTLY HURT SHAREHOLDERS.
UTHMEIER ACCUSES TARGET OF PUSHING A “RADICAL LEFT IDEOLOGY AT THE EXPENSE OF FINANCIAL RETURNS.”
EXECUTIVE VICE PRESIDENT OF THE FOUNDATION FOR INDIVIDUAL RIGHTS AND EXPRESSION RAISED CONCERNS THE LAWSUIT VIOLATES FREE SPEECH.
WRITING ON X, IF “FLORIDA GETS ITS WAY, THE GOVERNMENT WILL CONTROL BOOKS AND CLOTHING THAT COMPANIES CAN SELL AND MARKETING CAMPAIGNS THEY RUN.
AS STRAIGHT ARROW NEWS RECENTLY REPORTED, TARGET’S SHARE PRICES FELL BY MORE THAN 20 PERCENT IN NOVEMBER OF LAST YEAR.
A SEPARATE LAWSUIT FROM TARGET SHAREHOLDERS IS ALSO ONGOING AGAINST THE COMPANY, WHICH ACCUSES THE RETAILER OF FAILING TO PREDICT BACKLASH AGAINST ITS D-E-I INITIATIVES IN 2023.
THE LAWSUITS COME AFTER TARGET ANNOUNCED LATE LAST MONTH IT WOULD END ITS D-E-I INITIATIVES THIS YEAR.
FOR MORE ON THIS STORY– DOWNLOAD THE STRAIGHT ARROW NEWS APP OR VISIT SAN DOT COM.
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