Looks like Target is about to face a reckoning!
According to a report, a pension fund is suing the company for misleading investors about the risks associated with their radical left agenda. You might remember, Target faced massive boycotts last year over their grooming of kids.
Who could forget the "tuck-friendly" swimsuit?
Or what about the line of pride merch designed by this person?
The calls for boycott got so loud, Target lost 22% of its stock value.
Target's stock price plummeted 22% on Nov. 20, 2024, destroying nearly $16 billion in market cap in a single day after the retailer reported disappointing earnings.
Target has since announced that it is ending its DEI programs, but investors who lost money are demanding answers.
According to the legal filing:
This deceit, through misleading statements in the Company's public filings, including its 10-Ks and proxy statements, caused Target's investors to purchase Target stock at artificially inflated prices and to unknowingly support Target's Board and management in their misuse of investor funds to serve political and social goals.
Target may have ended DEI, but they're still feeling the pain.
"Go woke, go broke" is undefeated.
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