The is the first steps towards a potential shareholder lawsuit. One that could end up encompassing BlackRock, who owns 10% of Target’s stock.
I have several mutual funds. After digging into the actual holdings, it turns out that around 30 percent of the funds are high ESG rated companies and those stocks are losers. Even if their sales are going up, the stock prices are going steadily down and some of them have been doing so for years. The rest of the stocks generally keep the funds making a small percentage but not during a downturn. But go to each company’s website and they’ll boast about how much money they spend on virtue signaling. I won’t be buying anymore funds and I’m selling the ones I have. As far as I’m concerned, these funds have breached their fiduciary duty.