Florida Sues Target, Claiming DEI Initiatives ‘Misled, Defrauded Investors’

The lawsuit takes aim at Target’s children-and-family themed LGBT campaign in 2023.

A Target department store in North Miami Beach, Fla., on May 17, 2023. Joe Raedle/Getty Images

The State Board of Administration of Florida sued Target on Feb. 20, accusing the retail giant of knowingly misleading and defrauding investors by promoting diversity, equity, and inclusion (DEI) initiatives that prompted customer backlash and hurt sales.

Florida’s new Attorney General James Uthmeier filed the lawsuit in the U.S. District Court for the Middle District of Florida on behalf of the board, which oversees public pension funds that own Target stock.