This story flew under our radar, but now that it's been brought to our attention, it's the most important story of 2024 (and one you probably haven't heard about).
Back in 2023, Target geared up for Pride month by going all-in on woke. They hired a literal Satanist to design their pride collection, they sold 'tuck friendly' swimsuits to children (and the AP tried to run cover for the company), and accusations employees were facing threats at work.
People boycotted Target, resulting in billions of dollars in lost revenue.
Shareholders sued the company over those losses and Target tried to get the suit thrown out. Now a judge has ruled that suit can proceed:
Target’s bid to toss shareholder lawsuit over Pride backlash rejected by judge https://t.co/YLeBV2QUWv pic.twitter.com/nEVmkR2n5o
— New York Post (@nypost) December 4, 2024
Target has failed to persuade a judge in Florida to dismiss a lawsuit that accused the retailer of deceiving shareholders after its sales of LGBTQ-themed merchandise for Pride Month sparked a backlash and a customer boycott.
US District Judge John Badalamenti in Fort Myers ruled that the plaintiffs had presented enough information for now to pursue claims that Target misled investors about its efforts to guard against social and political risks.
The lawsuit from investor Brian Craig claims that Target’s board focused only on activist groups’ calls for diversity, equity and inclusion (DEI) measures and overlooked potential negative responses to the Pride campaign in May 2023.
The shareholders are correct. A corporation has a fiduciary duty to those shareholders, so they see a return on their investment in the company.
By putting ESG and DEI initiatives first -- thus damaging sales -- they are failing in that duty.
They brought this on themselves with that woke nonsense. Maybe now shareholders will start holding these companies accountable for their political stunts. The market speaks, and it's saying enough with the agendas, focus on business.
— Maple Eagle 🇨🇦🇺🇸🇮🇪 (@AwakeMapleEagle) December 4, 2024
We need more of this.
The fiduciary responsibility is to the shareholder.
— Tired of being politically correct (@USBornNRaised) December 4, 2024
Yes it is. And Target has failed in that responsibility (they're not alone, mind you).
I think the only time they crossed the line was when they were putting up displays of clothes for trans children.
— Nerdy Liberty Fan (@nerdylibertyfan) December 4, 2024
They took those down for good reason.
This started with Target allowing men into women's bathrooms and locker rooms. It goes far beyond just clothing.
“A lawsuit against Target over its controversial 2023 Pride Collection can move forward, a Florida judge has ruled...
— America First Legal (@America1stLegal) December 6, 2024
‘Target embraced a radical transgender agenda targeting children and families through the corporation’s infamous 2023 “Pride” campaign,’ conservative group… pic.twitter.com/m23mdUOX8K
It'll be very interesting to see how this suit plays out.
“America First Legal, the conservative group that filed the lawsuit last year, in a statement on Wednesday called the court ruling a ‘warning to publicly traded corporations’ boards and management.’ The group said the risk of DEI programs and environmental, social, and governance… pic.twitter.com/JLnsEosQ4w
— America First Legal (@America1stLegal) December 5, 2024
DEI and ESG programs need to go the way of the dodo bird.
@Target FAFO https://t.co/SMpDs0pUQb
— Truth Teller (@bluedanube2024) December 6, 2024
They are entered the 'Find Out' stage and we're here for it.
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