Home » Target Faces Shareholder Lawsuit Over Pride Campaign, DEI Initiative Fallout

Target Faces Shareholder Lawsuit Over Pride Campaign, DEI Initiative Fallout

Target was hit with a proposed class action lawsuit from shareholders who accused the retailer of misleading them about the risks posed by its diversity, equity, and inclusion (DEI) initiative. Shareholders filed the suit on Friday, naming CEO Brian Cornell and the company’s board as defendants, according to a report by Quartz. The City of …

Target was hit with a proposed class action lawsuit from shareholders who accused the retailer of misleading them about the risks posed by its diversity, equity, and inclusion (DEI) initiative.

Shareholders filed the suit on Friday, naming CEO Brian Cornell and the company’s board as defendants, according to a report by Quartz. The City of Riviera Beach Police Pension Fund in Florida claims it purchased Target stock at an inflated price between August 2022 and November 2024. The stock later tumbled after pushback against the retailer’s diversity efforts.