Results: Target sued by investor over backlash to LGBTQ merchandise

America First Legal filed the lawsuit in Florida federal court on behalf of investor Brian Craig against Target, chief executive Brian Cornell and the company's board of directors. In May, Target pulled some LGBTQ-themed merchandise linked to Pride Month, citing increased confrontations between shoppers and employees and incidents of products being thrown on the floor. Were you surprised at the amount of backlash Target received?

Craig, who owns 216 Target shares, said the board falsely said it monitored social and political risk while focusing only on the risks associated with not achieving its ESG and diversity, equity and inclusion (DEI) goals. The board "misrepresented its oversight because the board monitored only one side," Craig said in the lawsuit. Craig seeks damages for the decline in Target's share price caused by the consumer reaction and for a judge to rule the company violated U.S. securities laws. Do you think Craig will be successful in his lawsuit?