US supermarket giant faces lawsuit over DEI policies
Florida has initiated a lawsuit against Target, alleging that the company deceived investors by advocating for diversity, equity, and inclusion initiatives. Read Full Article at RT.com.
TroibNews 
Florida has initiated a lawsuit against Target, alleging that the retail giant misled investors by endorsing diversity, equity, and inclusion initiatives.
The state’s Attorney General, James Uthmeier, filed the lawsuit in federal court in Fort Myers on Thursday. The complaint asserts that Target did not adequately disclose the potential financial risks associated with its DEI policies, thereby misleading its investors.
Furthermore, the lawsuit claims that Target’s DEI initiatives, including its 2023 Pride Month campaign, resulted in consumer backlash and boycotts. This backlash purportedly caused a significant decline in the company’s stock value, leading to a loss of over $25 billion in market capitalization.
“Corporations that push radical leftist ideology at the expense of financial returns jeopardize the retirement security of Florida’s first responders and teachers,” Uthmeier expressed. He emphasized that his office intends to push for corporate reform so that “companies get back to the business of doing business – not offensive political theatre.”
Target has previously faced at least three similar lawsuits in Florida, all accusing the retailer of breaching securities laws by failing to inform investors about the potential financial implications of its DEI initiatives. In January, the company announced it would reduce several DEI programs, including those aimed at supporting black employees and black-owned businesses.
While Target has not explicitly tied this decision to the lawsuits, it aligns with a broader trend among major US companies, like Walmart and McDonald’s, to scale back DEI commitments following political and social pressures.
Additionally, US President Donald Trump has recently taken steps against DEI programs. On his first day back in office last month, he signed executive orders aimed at abolishing DEI initiatives within federal agencies and among government contractors, contending that such programs foster discrimination.
As of now, Target has not issued a statement regarding the latest lawsuit.
Jessica Kline contributed to this report for TROIB News
The state’s Attorney General, James Uthmeier, filed the lawsuit in federal court in Fort Myers on Thursday. The complaint asserts that Target did not adequately disclose the potential financial risks associated with its DEI policies, thereby misleading its investors.
Furthermore, the lawsuit claims that Target’s DEI initiatives, including its 2023 Pride Month campaign, resulted in consumer backlash and boycotts. This backlash purportedly caused a significant decline in the company’s stock value, leading to a loss of over $25 billion in market capitalization.
“Corporations that push radical leftist ideology at the expense of financial returns jeopardize the retirement security of Florida’s first responders and teachers,” Uthmeier expressed. He emphasized that his office intends to push for corporate reform so that “companies get back to the business of doing business – not offensive political theatre.”
Target has previously faced at least three similar lawsuits in Florida, all accusing the retailer of breaching securities laws by failing to inform investors about the potential financial implications of its DEI initiatives. In January, the company announced it would reduce several DEI programs, including those aimed at supporting black employees and black-owned businesses.
While Target has not explicitly tied this decision to the lawsuits, it aligns with a broader trend among major US companies, like Walmart and McDonald’s, to scale back DEI commitments following political and social pressures.
Additionally, US President Donald Trump has recently taken steps against DEI programs. On his first day back in office last month, he signed executive orders aimed at abolishing DEI initiatives within federal agencies and among government contractors, contending that such programs foster discrimination.
As of now, Target has not issued a statement regarding the latest lawsuit.
Jessica Kline contributed to this report for TROIB News
