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A Target shareholder whose shares lost over $20,000 after the retailer’s disastrous Pride Month collection that featured tuck-friendly swimwear and LGBTQ-friendly gear for infants and children is suing the store for allegedly misleading investors.

The lawsuit was filed by anti-radical left group America First Legal on behalf of investor, Brian Craig, who spent around $50,000 for 216.450 shares of Target in April 2022.

By April 2023, the value of Craig’s holdings fell to $34,839, and then dropped to $28,896 by June 14 — in the middle of Pride Month, as Target was in the middle of a boycott triggered by a collection that included childrens book titled Twas the Night Before Pride, and a handful of T-shirts donning LGBTQ-friendly slogans, like live laugh lesbian.

Target’s “board of directors betrayed both Target’s core customer base of working families and its investors by making false and misleading statements concerning Target’s environmental, social and governance (ESG) and diversity, equity and inclusion (DEI) mandates that led to its disastrous 2023 children-and-family themed LGBT Pride campaign.”

These “false and misleading statements,” the court documents argued, led “shareholders to unknowingly support Targets board and management in their misuse of investor funds to serve its divisive political and social goals — and ultimately lose billions.”

Even after Target was getting fierce backlash from its conservative consumers over its Pride-themed merchandise, it “continued the LGBT-Pride campaign and continues to sell products associated with the campaign, causing further damage to Target’s stock price,” the suit alleges.

As of Monday morning, Target’s website still touted Pride apparel for sale.

American First Legal vice president and general counsel Gene Hamilton said in a press release: “Federal law requires publicly-traded corporations to provide certain information to shareholders in their proxy statements that allow those shareholders to make informed decisions. As alleged in our complaint, Target failed to execute its duty to its shareholders.”

As a result, Craig is requesting that Target admit to violating rules in the Securities Exchange Act of 1934, which governs transactions in the secondary market, and award financial damages.

Should Craig win the case, the sum he receives would be determined at a later trial.

Representatives for Craig at American First Legal did not immediately respond to The Post’s request for comment.

The Post has also sought comment from Target.

Following Target’s release of its rainbow-clad collection, “PRIDE,” in May, Targets stock lost nearly $14 billion as the controversy grabbed headlines.

The court documents, which were filed in Florida federal court earlier this month, claim that the steep drop in market value is a direct and predictable result of managements calculated decisions to promote sexualized material to children.”

About $10 billion of market cap was lost between May 18 and 28, the filing said, referencing a New York Post article — the cheap-chic retailer’s “longest losing streak in 23 years.”

“The stock value remains depressed,” the suit added, noting that Craig still owns 216 shares of Target.

As of Monday morning, the Minneapolis-based retailer’s share price fell nearly 0.4%, to $130.72.

Over the past three months, Target’s stock has slipped about 14%, though shareholders have been losing money from their investments in the retailer long before it released the Pride collection.

However, after Target reported that its quarterly sales for the first time in six years for the three-month period ended July 29, it was attributed customers negative reaction to its spring Pride clothing.

Sales at stores and digital channels open for at least a year were off 5.4% from a year earlier, according to Targets Q2 earnings report released last week, while digital sales slipped 10.5%.

Targets CFO Michael Fiddelke addressed Targets disastrous rainbow-clad collection in an earnings call on Wednesday, saying: Traffic and top line trends were affected by the reaction to our Pride assortment.

Fiddelke said on the call that the retailer couldnt quantify the impact the Pride collection alone had on comparable sales.

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Islanders star Barzal misses game for discipline

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Islanders star Barzal misses game for discipline

New York Islanders star Mathew Barzal did not play at the Carolina Hurricanes on Thursday night for disciplinary reasons, coach Patrick Roy announced.

Roy said Barzal was late to the rink in Raleigh, North Carolina, on Thursday morning. He said the center will be back in the lineup for Friday night’s game at the Washington Capitals.

“That’s the culture of our team. We made the decision to not play him tonight,” Roy said before the game. “Barzy doesn’t feel good about it, but you respect the decision. He understands it. He was really good about it.”

Barzal had been slotted to play with wingers Anthony Duclair and Kyle Palmieri. Rookie forward Cal Ritchie, acquired from the Colorado Avalanche last season in a trade for Brock Nelson, is expected to make his Islanders debut with Barzal out.

Roy told Barzal that he had been disciplined for the same issue while playing for the Avalanche during his Hall of Fame NHL career.

“It’s not a big deal here. It happens. We know that,” Roy said. “No one here is mad at Barzy. It’s just the culture we put in place. We’re a team. We stick together. Compassion is a very important thing.”

Barzal, 28, is in the third season of an eight-year, $73.2 million contract extension he signed in 2022. He has two goals and six assists in nine games this season and 470 points in 539 career games over 10 seasons with the Islanders, who drafted him 16th overall in 2015.

The Islanders are off to a 4-4-1 start under Roy, who is in his third season as their coach.

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Avalanche sign forward Necas to 8-year extension

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Avalanche sign forward Necas to 8-year extension

Forward Martin Necas will remain with the Colorado Avalanche after signing an eight-year extension, the club announced Thursday.

Getting a new deal done for Necas was a priority with the 26-year-old in the second season of a two-year bridge deal that was worth $6.5 million annually. Necas’ new contract, which starts next season, will see him earn $11.5 million annually, a source told ESPN’s Emily Kaplan.

The source also said that Necas will have $60.4 million in signing bonuses while having a full no-trade clause in the first seven years of the deal.

Necas signed his current contract in July 2024 when he was playing with the team that drafted him, the Carolina Hurricanes. He was in his strongest season before the Hurricanes included him in a package in the first of two trades involving Mikko Rantanen last season. A second trade would later see the Hurricanes move Rantanen to the Avs’ Central Division rival Dallas Stars.

Receiving Necas in return created the belief that the Avs could use him as Rantanen’s replacement as their top-line right winger. Necas’ arrival saw him score 11 goals and 28 points in 30 games for the Avs as part of a season that saw him finish with 27 goals and a career-high 83 points.

This season has seen the 26-year-old continue to build upon what he accomplished last season. His seven goals are second on the Avs while his 13 points are third. Another indication of his importance to the Avs has been the fact that his 21:14 in average ice time is second among Colorado’s forwards.

Re-signing Necas now means the Avalanche have nine players who are under contract for more than three years. It’s a list that includes Nathan MacKinnon, Gabriel Landeskog, Valeri Nichushkin, Devon Toews, Brock Nelson and Mackenzie Blackwood. Meanwhile, two-time defending Norris Trophy winner Cale Makar has two years left on his current contract.

Necas’ contributions have also played a significant role in the Avs coming into Thursday in a five-way tie with the Montreal Canadiens, New Jersey Devils, Pittsburgh Penguins and Utah Mammoth for the most points in the NHL.

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NASCAR counterclaim in antitrust suit dismissed

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NASCAR counterclaim in antitrust suit dismissed

A federal judge on Tuesday dismissed NASCAR’s counterclaim against the two teams suing the racing series over antitrust allegations.

U.S. District Judge Kenneth Bell issued the summary judgment in favor of 23XI Racing and Front Row Motorsports, dismissing NASCAR’s claim that 23XI co-owner Curtis Polk illegally colluded with other teams during negotiations for new charters.

23XI is also owned by NBA Hall of Famer Michael Jordan and three-time Daytona 500 winner Denny Hamlin, and Polk is Jordan’s longtime business manager. Polk was also part of a four-member negotiating team that worked with NASCAR during two-plus years on the charter agreement signed by 13 of 15 organizations last year.

NASCAR argued in its countersuit that a 2023 boycott of the team owners council meeting negatively impacted its media rights negotiations, and that by the 15 organizations unifying for the charter talks, the teams got a better deal than they could have gotten if NASCAR negotiated with the teams separately.

Bell found the boycott to be a negotiating tactic “which appeared to have little impact” because NASCAR started individual negotiations shortly after.

Bell also found that 23XI and FRM did not participate in “unreasonable restraint of trade” because NASCAR’s individual meetings with the teams did result in some changes to the charter agreement, and because all the charter agreements would be the same among all the teams, that the teams working together in negotiations would be reasonable.

“The evidence here establishes that not only were individual negotiations ‘available,’ but NASCAR had such negotiations regularly during the negotiation period,” Bell wrote in his order. “And, those individual negotiations achieved concrete results, including the final 2025 Charter agreement that was signed by 13 teams acting individually (and contrary to the supposed ‘joint agreement’).”

Bell must also rule on two other summary judgment motions, one by NASCAR asking for a ruling in its favor and one from 23XI and FRM to designate the market as “premier stock-car racing.”

Two days of mediation last week failed to end this contentious feud and the case is still scheduled for a Dec. 1 trial date in North Carolina.

23XI and FRM are the only two organizations out of 15 that refused to sign extensions on charters, which are at the heart of NASCAR’s business model. A chartered car is guaranteed revenue and access to weekly races, and without them both teams say they will almost surely go out of business.

“Today’s decision has only reaffirmed my clients’ unwavering pursuit of a more fair and equitable sport,” 23XI/FRM attorney Jeffrey Kessler said in a statement. “Their determination remains strong as we continue our efforts for a resolution that benefits everyone — teams, drivers, employees, partners and fans.”

NASCAR indicated in its statement that it is still hopeful of a settlement. The season ends with Sunday’s championship finale at Phoenix and Hamlin is one of four drivers eligible for the Cup title.

“We respect the Court’s decision, though we respectfully disagree with its legal reasoning,” NASCAR said. “Our priority remains resolving this matter quickly so all parties can focus on Championship weekend and continuing to grow the sport.

“Should a resolution not be reached, we intend to appeal the decision at the appropriate time.”

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