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Target is facing shareholders' lawsuit, claiming that the company misleads the diversity, fairness and inclusiveness (DEI) initiative and a wider social policy risk. It is said that this has led to the sharp decline in client's opposition and the sharp decline in the stock price of retailers. The lawsuit filed a lawsuit in the Federal Court of Florida on Friday, accusing the goals, CEO Brian Cornell and other executives failed to disclose the company's environment, social and governance (ESG) strategy and its 2023 Financial risks related to the pride and month movement. The lawsuit led by the CITY of Riviera Beach Police Fund claims that the stock price of Target is artificially exaggerated. Investors unknowingly support the company's suspected abuse of political politics Funding with social undertakings. According to the complaint, consumers' strong opposition to these policies (including disputes on Pride Merchandise around Target) caused a decline in sales and storage traffic, which eventually led to the stock price of November 20, 2024 fell by 22 %, about $ 15.7 billion Essence Market value. According to reports, the target financial performance lags behind competitors such as Wal -Mart. The shareholders believe that the company's struggle is related to the continuous impact of its social initiative. The lawsuit was announced on January 24, 2025, and it will reduce the DEI plan, which includes a plan that supports blacks owned by enterprises. of. Including Wal -Mart and Amazon, the DEI and ESG commitments have been withdrawn recently after political pressure and criticism, especially conservative groups and numbers from former President Donald Trump. The lawsuit seeks investors who purchase target stocks on August 26, 2022 and August 26, 2022 to seek damage on November 19, 2024, claiming that the company's potential financial consequences of their social policies are not transparent.
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