Reuters reports:
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.
U.S. 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.
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 (ESG) initiatives “cannot be whitewashed with boilerplate language or ignored.”
Read the full article.
The judge was appointed by Trump in 2019.
Target must face shareholder lawsuit over Pride backlash, US judge rules www.reuters.com/legal/target… Order – fingfx.thomsonreuters.com/gfx/legaldoc…
— Mike Scarcella (@mikescarcella.bsky.social) December 4, 2024 at 3:35 PM
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