BOISE,
Idaho, Dec. 5, 2023 /PRNewswire/ -- Inspire
Advisors, a leading faith-based investing firm, has joined counsel
America First Legal (AFL) and Boyden Gray PLLC in
a lawsuit against Target Corporation and its Board of
Directors. The lawsuit seeks to hold Target and its leadership
accountable for misleading representations about its Environmental,
Social, and Governance (ESG) and Diversity, Equity, and Inclusion
(DEI) mandates that betrayed Target's customers and shareholders
and caused investors to lose billions of dollars.
Inspire CEO Robert Netzly had
this to say about the lawsuit, "Target is not above the law and
must be held accountable for their reckless, ideologically
motivated LGBT Pride Campaign and the damage it has caused
shareholders. As faith-based investors, we are sending a message to
Target and any other company watching on the sidelines that we
expect companies to act ethically and uphold their fiduciary duty
to shareholders and will hold them accountable as such."
Some highlights of the complaints filed in the
lawsuit:
- Target's LGBT activism repeatedly provoked consumer backlash
and subjected Target to social and political risks
- Despite increasing risks, Target drastically expanded its LGBT
activism with the 2023 LGBT-Pride Campaign
- Target's disastrous 2023 LGBT-Pride Campaign triggered consumer
boycotts that cost investors billions
- Target and CEO Brian Cornell
misleadingly downplayed the severity of consumer backlash to the
2023 LGBT-Pride Campaign
Read the lawsuit here.
About Inspire Advisors
Inspire Advisors is the wealth management division of the
Inspire Investing family of companies, an enterprise with
$2.3 billion in assets under
management (as of 11/30/23). Inspire has ranked as a top RIA by FA
Magazine for seven years in a row. Inspire was also recognized in
The Financial Times' "Americas' Fastest Growing Companies" 2021 and
2022 report and the Inc. 5000 list of fastest-growing private
companies in America four years running. The Inspire Advisors
platform is purpose-built from the ground up to support Christian
financial advisors who want to run their practices with diligent,
biblically responsible investing (BRI) alignment, a growing
conviction among financial advisors and their clients.
Investment advisory services offered through Inspire Advisors,
LLC and Inspire Investing, LLC, both Registered Investment Advisors
with the SEC.
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SOURCE Inspire Investing