June 6, 2023
America First Legal Demands Target Corporation Produce its Books and Records Regarding its Reckless LGBT Political Agenda and the Corporationâs $12 Billion Loss in Market Valuation
WASHINGTON, D.C. â Today, America First Legal (AFL), on behalf of its client, the National Center for Public Policy Research (NCPPR), served the Target Corporation with a formal demand for the production of corporate books and records, seeking transparency regarding its managementâs radical LGBT political agenda that has apparently cost the corporation over $12 billion in market valuation since mid-May 2023. NCPPR is a Target shareholder.
Targetâs 2022 annual report acknowledges that the corporationâs core customer base is made up of âfamilies.â It further recognizes the serious risk to Targetâs companyâs financial prospects if that core customer base sours on the corporation: âOur continued success is dependent on positive perceptions of Target which, if eroded, could adversely affect our business and our relationships with our guests and team members.â
Nevertheless, the evidence is that Targetâs management has recklessly bent the knee to the radical left. Serving âstakeholders,â not shareholders, Targetâs management has:
Donated millions to âGLSEN,â an organization that âPromotes LGBT Activism in Schools.â Among other things, GLSENâs mission includes undermining parentsâ federal and state constitutional and statutory rights by directing public schools to withhold âany information that may reveal a studentâs gender identity to others, including [to] parents or guardians.â Targetâs management apparently supports this mission because funding GLSEN is knowingly, or with reckless disregard, subsidizing GLSENâs policy of violating parentsâ rights and promoting secret gender transitions for kids.
Targetâs website currently lists over 100 products under the category âLGBT Pride: Kidsâ Clothing,â which are often modeled by very young children and almost always feature themes designed to attract and interest them, like rainbow Mickey Mouse symbols. These products include LGBT-themed onesies, bibs, and overalls aimed at newborn babies and toddlers, and âtuck-friendlyâ bathing suits marketed towards âtransgender women.â
Target also knowingly stocked merchandise by âSatanist-Inspiredâ brand Abprallen for its pride collection. Abprallen is known for designs that glorify violence, such as designs showing the phrases âWe Bash Backâ with a heart-shaped mace in the trans-flag colors, âTransphobe Collectorâ with a skull, and âHomophobe Headrestâ with skulls beside a pastel guillotine.
As reported by Fox News, Target has lost $12 billion in market valuation due to backlash over managementâs extreme political agenda. This dramatic and sudden loss to shareholders is a direct and predictable result of managementâs calculated efforts to please its extreme leftist âstakeholders,â almost none of whom shop at Target, and evidence contempt for the corporationâs core customers.
America First Legal, on behalf of the NCPPRâa shareholder of Target stockâis 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.
https://aflegal.org/america-first-legal-demands-target-corporation-produce-its-books-and-records-regarding-its-reckless-lgbt-political-agenda-and-the-corporations-12-billion-loss-in-market-valuation/