Tallahassee, Fla. – Today, Florida Attorney General James Usmierer and the Florida State Board of Trustees, represented by First Legal (AFL), filed a major class action lawsuit against Target Corporation, causing the company to be deliberately misunderstood. claims he was fraudulent. Investors hide the financial risks of their radical LGBTQ activism and spend tens of millions of dollars on shareholders. Boyden Gray PLLC and Lawson Huck Gonzalez PLLC will also serve as counsel for plaintiffs in cases filed in US District Court for the Central District of Florida. Click here to view a copy of the complaint.
Target alleges that it violated sections 10(b) and 14(a) of the Securities Exchange Act 1934 by failing to disclose the risk of customer resilience related to the Diversity, Equity and Inclusion (DEI) initiative. faces lawsuits. .
The lawsuit also claims that the target misinterpreted investors by monitoring social and political risks, but in fact it focused only on alignment with a group of left-wing activist groups.
Today, we filed a lawsuit against Target on behalf of the Florida State Board of Trustees.
Target’s efforts to make children sexualized have caused stock prices to plummet, harming Florida’s retirement funds, putting the retirement of teachers and first responders at risk: pic.twitter.com/uczq3csc3p
– James Usmier (@jamesuthmeierfl) February 20, 2025
The fallout was immediate. The target stock price fell sharply, losing a market value of $10 billion within 10 days and $25 billion in six months. This is the worst performance and the longest decline in 23 years.
The lawsuit is the second lawsuit against the targets of securities fraud by AFL, Boyden Gray PLLC and Lawson Huck Gonzalez PLLC. The first lawsuit filed in August 2023 is still ongoing after a federal judge refused to dismiss it in December 2024.
Florida Attorney General James Usmier, together with the AFL and the Florida State Board of Trustees, has taken steps to target suspected liability for these violations and prioritize activists’ agendas over shareholders’ financial liability. It’s there.
