After losing $12 billion, Target faces demands for documents in a possible prelude to a shareholder lawsuit

American Thinker ^ | 06/07/2023 | Monica Showalter

[RoosterRedux]

I multi-tasking this morning so I am misreading a lot of stuff.

[GailA]

CORRECT.

[pepsi_junkie]

The article just says a shareholder has filed a request for records. I’m not a lawyer so not sure if that’s a prelude for a suit or not. I expect the Board to stonewall, of course, unless this is a MAJOR investor.

[CedarDave]

More; FR posted article on Target=supported anti-American group.

https://freerepublic.com/focus/f-news/4158486/posts

[pepsi_junkie]

And I just want to clarify, when I says “they are suing the board” I was talking about the hypothetical of what a shareholder suit against a corporation is, not in this specific case. As far as I know there is no lawsuit, that’s just Freeper cheerleading at the moment. gooooo team! :-)

[chopperk]

Dump Target Stock ASAP.

[Vaduz]

Target = Kmart

[Eleutheria5]

Woke/Broke.

[SeekAndFind]

RE: Target = Kmart

This film might have been the final blow to K-MART

[magna carta]

Yummylicious

[Vaduz]

Yes and now Target is a member of the club.

[FlyingEagle]

Yup, this whole trans-groomer-homo retail promotion thing is now a Governance - Boardroom issue, and soon a criminal mismanagement, resource-wasting activist shareholder Courtroom issue.

Get woke, Go broke.

[Magnum44]

It may be about the bottom line, but these hired and well payed execs have fiduciary responsibility to share holders. Its about time they were held to account. Woke is broke, and irresponsible use of shareholder investments.

[Spktyr]

K-Mart soldiered on for more than three decades after that movie, so no.

[SaveFerris]

[Attention Surplus Disorder]

I tend to doubt any such lawsuit will go anywhere, because the outcome was not predictable. There was wasn’t any sort of negligence or wrongdoing, at least as far as I can see.

[Jonny7797]

that’s not how corporate lawsuits are done.

[RoosterRedux]

Please elaborate. How would such a suit be done in your opinion?

[Spktyr]

It’s a corporation - this does not qualify as conduct allowing lawsuits to pierce the corporate liability shield. You can’t sue the officers specifically as this doesn’t come under the magic categories of “embezzelment” or “gross fiduciary misconduct.”

[RoosterRedux]

Yes. I think it would be difficult to impossible to sue the officers individually for malfeasance or violation of fiduciary responsibility.

But the shareholders can sue the board and, depending on state law, possibly sue the officers as a group.