A Target investor has sued the company for allegedly deceiving shareholders about the financial risks of its diversity policies that cost the company billions..Brian Craig owns 216 shares of Target stock and alleges the company and its board misled investors with assurances they had assessed the social and political risks of its social, governance, diversity, equity and inclusion mandates..The result, he alleges, was a Pride-themed marketing campaign that lost the company billions in stock value..America First Legal Foundation President, Stephen Miller, once an advisor to former President Donald Trump, filed the lawsuit Aug. 8 at a federal court in Florida. Boyden Gray PLLC and Lawson Huck Gonzalez PLLC will also help in the suit..The lawsuit alleges Target’s inclusive policies allowed the retailer to “serve its divisive political and social goals, and ultimately lose billions.” Craig wants the court to award him damages for the company’s fallen stock price..A Fox Business report in May found Target had lost US$9.3 billion in market value, as corporate shares dropped 12.6% following announcements of its pride-themed collection..By Aug. 9, Fox News cited the Dow Jones Market Data Group to report Target had lost around US$14 billion in market value..Target had 'tuck-friendly' swimsuits for trans-identifying men displayed in the women's department, all part of a campaign Craig alleges was ill-conceived..“No rational board of directors or management of a retailer with a core customer base of working families would have approved such a nationwide campaign,” read the complaint. “Nonetheless, Target’s officials pursued.” .Christian conservatives, such as Relatable podcast host Allie Beth Stuckey, led calls to boycott the company..“Christians who have thus far tricked themselves into thinking ‘pronoun hospitality’ is a loving evangelistic tool should wake up to the fact that they’ve been dancing with the devil,” Stuckey tweeted. She later called on Christian women to boycott the store in June, if not longer..The Target website featured products with occult imagery created by Abprallen, a London-based company. Abprallen items previously for sale online included a bag with the slogan, “Too Queer for Here” and a sweatshirt that proclaimed, “Cure transphobia, not trans people.”.Abprallen was started by a biological female who identifies as a “gay trans man” named Erik-James Carnell. The company attracted controversy for a “Satan respects pronouns” design it shared on Instagram on March 28. .“Satan is hope, compassion, equality, and love. So, naturally, Satan respects pronouns. He loves all LGBT+ people,” the post stated. “I went with a variation of Baphomet for this design, a deity who themself is a mixture of genders, beings, ideas and existences. They reject binary stereotypes and expectations. Perfect.”.Target, which has almost 2,000 stores in the US, already seemed in damage-control mode by May 24..“For more than a decade, Target has offered an assortment of products aimed at celebrating Pride Month. Since introducing this year's collection, we've experienced threats impacting our team members' sense of safety and well-being while at work,” the corporation wrote in a statement..“Given these volatile circumstances, we are making adjustments to our plans, including removing items that have been at the center of the most significant confrontational behavior,” the statement continued. “Our focus now is on moving forward with our continuing commitment to the LGBTQIA+ community and standing with them as we celebrate Pride Month and throughout the year.”
A Target investor has sued the company for allegedly deceiving shareholders about the financial risks of its diversity policies that cost the company billions..Brian Craig owns 216 shares of Target stock and alleges the company and its board misled investors with assurances they had assessed the social and political risks of its social, governance, diversity, equity and inclusion mandates..The result, he alleges, was a Pride-themed marketing campaign that lost the company billions in stock value..America First Legal Foundation President, Stephen Miller, once an advisor to former President Donald Trump, filed the lawsuit Aug. 8 at a federal court in Florida. Boyden Gray PLLC and Lawson Huck Gonzalez PLLC will also help in the suit..The lawsuit alleges Target’s inclusive policies allowed the retailer to “serve its divisive political and social goals, and ultimately lose billions.” Craig wants the court to award him damages for the company’s fallen stock price..A Fox Business report in May found Target had lost US$9.3 billion in market value, as corporate shares dropped 12.6% following announcements of its pride-themed collection..By Aug. 9, Fox News cited the Dow Jones Market Data Group to report Target had lost around US$14 billion in market value..Target had 'tuck-friendly' swimsuits for trans-identifying men displayed in the women's department, all part of a campaign Craig alleges was ill-conceived..“No rational board of directors or management of a retailer with a core customer base of working families would have approved such a nationwide campaign,” read the complaint. “Nonetheless, Target’s officials pursued.” .Christian conservatives, such as Relatable podcast host Allie Beth Stuckey, led calls to boycott the company..“Christians who have thus far tricked themselves into thinking ‘pronoun hospitality’ is a loving evangelistic tool should wake up to the fact that they’ve been dancing with the devil,” Stuckey tweeted. She later called on Christian women to boycott the store in June, if not longer..The Target website featured products with occult imagery created by Abprallen, a London-based company. Abprallen items previously for sale online included a bag with the slogan, “Too Queer for Here” and a sweatshirt that proclaimed, “Cure transphobia, not trans people.”.Abprallen was started by a biological female who identifies as a “gay trans man” named Erik-James Carnell. The company attracted controversy for a “Satan respects pronouns” design it shared on Instagram on March 28. .“Satan is hope, compassion, equality, and love. So, naturally, Satan respects pronouns. He loves all LGBT+ people,” the post stated. “I went with a variation of Baphomet for this design, a deity who themself is a mixture of genders, beings, ideas and existences. They reject binary stereotypes and expectations. Perfect.”.Target, which has almost 2,000 stores in the US, already seemed in damage-control mode by May 24..“For more than a decade, Target has offered an assortment of products aimed at celebrating Pride Month. Since introducing this year's collection, we've experienced threats impacting our team members' sense of safety and well-being while at work,” the corporation wrote in a statement..“Given these volatile circumstances, we are making adjustments to our plans, including removing items that have been at the center of the most significant confrontational behavior,” the statement continued. “Our focus now is on moving forward with our continuing commitment to the LGBTQIA+ community and standing with them as we celebrate Pride Month and throughout the year.”
