The state of Florida has filed a lawsuit against Target, accusing the retailer of misleading investors about financial risks tied to its LGBTQ Pride merchandise. This lawsuit signals a shift in how states might challenge corporate diversity and inclusion policies, focusing on alleged securities fraud. Critics argue that the suit intends to intimidate companies selling LGBTQ products. The legal landscape around corporate DEI is evolving amid increasing conservative backlash, which has intensified following the backlash Target faced for its Pride Month collection in 2023.
"This is a frivolous suit in blatant violation of the First Amendment," LGBTQ legislative researcher Allison Chapman told Truthout. "The goal is to have a chilling effect that warns retailers if they sell anything for Pride, they could face legal repercussions."
"The lawsuit is wrapped in a technical securities regulation argument but at the core of it, they're effectively saying Target knew this country was bigoted and not catering to those bigotries..." said civil rights attorney Alejandra Caraballo.
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