Case Summary
Target
NYSE: TGT
Case Details
- City of Riviera Beach Police Pension Fund v. Target Corporation et al.
- Class Period:August 26, 2022 - November 19, 2024
- Date Filed:January 31, 2025
- Jurisdiction:U.S. District Court, Middle District of Florida
- Docket Number: 2:25-cv-00085
- Lead Plaintiff Deadline: April 1, 2025
Seek Plaintiff 52
Overview
A class action lawsuit has been filed against Target Corporation (“Target” or the “Company”) and certain of the Company’s former and current executive officers alleging violations of the federal securities laws. Target’s stock trades in an efficient market on the New York Stock Exchange under the trading symbol “TGT.”
The Target class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Target common stock between August 26, 2022, and November 19, 2024, both dates inclusive (the “Class Period”). Investors have until April 1, 2025 to seek appointment as lead plaintiff in the Target class action lawsuit.
Target has long cultivated a classic, all-American image, and sells itself as the favorite retailer of middle-class American families.
The Target class action alleges that Defendants misled investors by making false and misleading statements about Target’s Environmental, Social and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) mandates that led to widespread customer boycotts following Target’s 2023 LGBT-Pride campaign (the “2023 LGBT-Pride Campaign” or the “Campaign”). The negative effects of the Campaign on Target’s business, including a subsequent campaign in 2024 (the “2024 Campaign”), led to a massive decline in Target’s stock price. Specifically, the 2023 LGBT-Pride Campaign offended certain Target customers, provoking consumer backlash and boycotts that caused Target’s sales to fall for the first time in six years.
Unbeknownst to investors and contrary to Target’s public statements, Target’s Chief Executive Officer and its Board of Directors did not oversee or disclose the known risks of Target’s 2023 LGBT-Pride Campaign and the 2024 Campaign. This deceit, through misleading statements in the Company’s public filings, including its Forms 10-K and proxy statements, caused Target’s investors to purchase Target stock at artificially inflated prices and to unknowingly support Target’s Board of Directors and management in their misuse of investor funds to serve political and social goals. As the truth of the negative effect of these campaigns came to light, Target suffered tens of billions of losses in its market capitalization from May 2023 through the present.
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If you purchased or otherwise acquired Target common stock between August 26, 2022, and November 19, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.
You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected].
The deadline to apply to the Court to serve as lead plaintiff in the Target class action lawsuit is April 1, 2025.