Target, Executives Face Shareholder Lawsuit Over DEI Initiatives

Target Corp. and its top executives misled investors about the risks of the company’s diversity, equity, and inclusion initiatives, the pension fund for the City of Riviera Beach Police alleges in a proposed class action.

Target, CEO Brian Cornell, and the company’s board violated federal securities law when they failed to disclose risks around the company’s LGBTQ+ campaigns and DEI efforts, the pension fund claims in a complaint filed Jan. 31 in the US District Court for the Middle District of Florida. The fund is suing on behalf of Target investors who acquired the stock between Aug. 26, 2022, and ...