Ex-Trump Officials Sue Target Alleging Pride Month Investor Risk

Target is facing a lawsuit from former Trump officials who claim the retailer misled investors about financial risks from LGBTQ Pride marketing that brought a conservative backlash costing shareholders billions of dollars.

America First Legal Foundation, led by former senior Trump adviser Stephen Miller, filed the lawsuit against Target Corp. on behalf of a company shareholder Tuesday in federal court in Florida. Target in May sold LGBTQ-themed merchandise that drew the retailer into the US culture wars alongside Bud Light maker Anheuser-Busch InBev NV and other companies.

Some customers condemned Target’s merchandising of clothing and products intended for Pride Month ...