Minnesota Based Target Facing Class Action Lawsuit

Oh boy, Target Corporate, which is based in Minneapolis, is not having a great day, month, or year, so far.

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So, back in 2023, Target launched their Pride merchandise.  Investors were allegedly promised a certain return on their investment.  Unfortunately, things did not go that way.  There were several boycotts regarding the merchandise, and also the placement of the campaign which was right in the front of the store in most or all of the Target stores across the country.

Investers are suing Target Corporation stating that they were misled about the financial impact of the boycotts in 2023.

From KARE 11

In the complaint, the City of Riviera Beach Police Pension Fund alleges Target misled investors by making false and misleading statements about the company's DEI mandates, as well as those included in its Environmental, Social and Governance guidelines.

 

Now, after President Trump dismantled the DEI (Diversity, Equity and Inclusion Initiative), Target decided to pull out of their DEI support and is no longer carrying any of the Pride merchandise.  And that has brought along a lot of backlash going in the other direction.

In 2023, two types of boycotts happened, and now it's happening again.

Target faced two waves of boycotts: First, conservative customers raised alarms over the merchandise, particularly clothing intended for trans people. Then once Target reacted by removing some Pride items and moving the display to the back of certain stores, LGBTQ people and supporters responded by boycotting the store as well. 

The lawsuit states that Target downplayed the risks of the Pride line.  They also state that investors were misled by the Target Corporation to basically push their own political and social goals.  It's been two years since this run of boycotts that hurt Target financially, and now Target has a whole new set of issues totally on the other side.