Shareholder Joins Forces with America First Legal
Demands Target Produce Books and Records on LGBT Political Agenda and $12 Billion Market Valuation Loss
America First Legal (AFL), representing the National Center for Public Policy Research (NCPPR), a shareholder of Target, has taken legal action against Target Corporation, serving a formal demand for the production of corporate books and records.
The demand seeks transparency regarding Target’s management’s radical LGBT political agenda, which appears to have resulted in over $12 billion decline in market valuation since mid-May 2023 following boycott calls from conservatives.
“America First Legal, on behalf of the NCPPR–a shareholder of Target stock–is demanding records related to the reckless promotion of LGBT products and the subsequent decline in market value. Target and its Board of Directors have failed to uphold their fiduciary duties and should be prepared to explain to their shareholders exactly why they put ideology over shareholder interests,” according to AFL’s press release.
Target’s 2022 annual report recognizes that “families” make up the majority of the retailer’s consumer base and emphasizes the dire consequences for the company’s finances caused by the loss of these customers.