<ul><li>The Florida agency overseeing public employee retirement funds filed a lawsuit against Target, accusing the retailer of deceiving shareholders about the risks of its 2023 Pride Month campaign, resulting in significant financial losses.</li><li>The lawsuit claims that the Pride campaign led to consumer backlash, boycotts, and a $25 billion decline in Target's market capitalization.</li><li>The complaint alleges that Target's CEO and board of directors failed to disclose the potential risks of the campaign and violated the Securities Exchange Act.</li><li>This is the first shareholder lawsuit by a state alleging mishandling of diversity, equity, and inclusion (DEI) initiatives, and it highlights the increasing backlash and legal challenges against companies' DEI efforts.</li></ul>

Florida says Target’s alleged deceit over DEI risks damaged public employee pensions

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