Florida Attorney General James Uthmeier filed a federal lawsuit against Target, alleging the retailer misled investors. The lawsuit claims Target's DEI initiatives triggered a backlash, hurt sales, and cost shareholders. It also claims Target violated the Securities Exchange Act by failing to disclose risks associated with its DEI and Pride Month initiatives. Uthmeier vowed to combat corporate “political theatre.” Target recently scaled back its DEI efforts following conservative pushback.
