Shareholder lawsuits over corporate diversity initiatives have grown more common in recent years, but they're usually filed by activist investors or political groups. This is one of the first such cases from a U.

Target is being sued by the state of Florida over its Pride displays and DEI initiatives. The state claims Target did not warn shareholders first.

Target was sued on Thursday by the state of Florida for allegedly concealing the risks of diversity and social initiatives that led to a customer backlash and wiped billions of dollars from the retailer's market value.