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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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Entertainment

Pilot killed as Motley Crue frontman’s jet crashes at Arizona airport

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Pilot killed as Motley Crue frontman's jet crashes at Arizona airport

A pilot has died after a private jet owned by Motley Crue frontman Vince Neil crashed into another plane at an airport in Arizona.

Neil was not on board at the time of the collision, which happened off the runway at Scottsdale Airport on Monday afternoon.

Neil’s girlfriend Rain Andreani and her friend suffered injuries which are not thought to be life-threatening.

They were taken to hospital with the jet’s co-pilot, who was also injured.

Emergency responders work on Vince Neil's plane after the collision. Pic: AP
Image:
Emergency responders work on Vince Neil’s plane after the collision. Pic: AP

“While details are still emerging, our hearts go out to the families of both the pilot who lost his life and the passengers who suffered injuries,” Motley Crue said in a statement.

“Motley Crue will announce a way to help support the family of the deceased pilot – stand by for an announcement very soon”.

Rain Andreani broke five ribs in the crash and the dogs the women were travelling with survived, TMZ reports.

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Firefighters work around the site of a crashed Learjet at Scottsdale Airport after it collided with a parked plane Monday, Feb. 10, 2025, in Scottsdale, Ariz. (AP Photo/Ross D. Franklin)
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Pic: AP

Neil’s jet was arriving from Austin, Texas, when one of its two sets of landing gears failed.

The Learjet veered off the runway after landing and crashed into a Gulfstream 200 business jet.

Neil’s lawyer said the singer is “grateful for the critical aid of all first responders assisting today”.

The Federal Aviation Administration said the incident was under investigation.

Motley Crue enjoyed major success throughout the 1980s, selling more than 100 million records.

Vince Neil fronted the rock band from their formation in 1981 until he left in 1992.

He later reunited with the band in 1996 and fronted them until they retired in 2015, and again from the band’s 2018 reunion onwards.

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World

Trump issues Gaza ceasefire ultimatum to Hamas as he warns ‘all hell is going to break out’ if hostages not returned

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Trump issues Gaza ceasefire ultimatum to Hamas as he warns 'all hell is going to break out' if hostages not returned

Donald Trump says the Gaza ceasefire should be cancelled if all remaining Israeli hostages are not returned by noon on Saturday – as he warned Hamas that “all hell is going to break out”.

The US president’s intervention came hours after Hamas has said it will delay the release of more hostages and accused Israel of violating their ceasefire deal.

While signing a series of new executive orders, Mr Trump said he feared many Israeli hostages scheduled for release are already dead.

Referring to his Saturday deadline for the release of hostages, Mr Trump said: “If they’re not here, all hell is going to break out.”

He acknowledged that a decision to end the ceasefire was up to Israel, adding: “I’m speaking for myself. Israel can override it.”

Hours earlier, Mr Trump said Palestinians would not have the right to return under his plan for US “ownership” of Gaza – contradicting officials in his administration who said they would be relocated temporarily.

Trump latest: ‘Palestinians will have no right to Gaza return’

More on Gaza

Widespread destruction seen in Gaza City. Pic: AP
Image:
Widespread destruction seen in Gaza City. Pic: AP

Hamas halts release of hostages

Earlier on Monday, Hamas claimed ceasefire violations had included “delaying the return of the displaced to the northern Gaza Strip, and targeting them with shelling and gunfire”.

Spokesman Abu Obeida said Hamas remained committed if Israel kept to the terms, but that the 15 February handover was postponed “until the occupation commits to and compensates for the past weeks”.

Egyptian security sources told Reuters that mediators now fear the deal will break down.

They said Hamas believes Israel isn’t serious about the ceasefire – which began on 19 January.

The last hostage release took place at the weekend and saw three Israeli men set free. Five Thai citizens released last month were also finally reunited with their families in Bangkok.

They were among about 250 people taken during the 7 October 2023 attack, when 1,200 people were murdered.

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Tears as Thai hostages return home

Five swaps have taken place so far, with 21 hostages and more than 730 Palestinian prisoners released.

Saturday’s exchange was due to involve three more Israelis and hundreds of Palestinians.

Defence minister Israel Katz said any delay in releasing hostages would be “a complete violation” and he had instructed troops to be on highest alert.

The Hostages and Missing Family Forum called on mediating countries to restore the deal, saying “time is of the essence” and citing “the shocking conditions of the hostages released last Saturday”.

Read more:
Trump plan so outrageous it might be part of something bigger
Israeli police confiscate books in raid on Palestinian bookshops

As part of the ceasefire deal, Israeli forces pulled back from a key passage through Gaza on Sunday.

The four-mile-long Netzarim corridor separates northern Gaza from the south, and hundreds of thousands of displaced Palestinians have now crossed back over.

However, Israel pushed back the withdrawal by a few days in protest at the chaotic release of hostages Arbel Yehud and Gadi Moses.

This may be what Hamas is referencing what it talks of “delaying the return of the displaced”.

Please use Chrome browser for a more accessible video player

Palestinians return to destroyed Netzarim

There have also been examples of Israeli troops shooting at or near Palestinians approaching Israeli forces after being warned to stay back.

So far, little progress has been made on an extension to the first six-week phase of the ceasefire.

A delegation from Israel has arrived in Qatar for further talks amid concern the deal might collapse before all remaining hostages are freed.

Israel has previously said it will not agree to a complete withdrawal from Gaza until Hamas’s military and political capabilities are eliminated.

Hamas has countered that it will not hand over the final hostages until Israel removes all its troops from Gaza.

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US

Trump issues Gaza ceasefire ultimatum to Hamas as he warns ‘all hell is going to break out’ if hostages not returned

Published

on

By

Trump issues Gaza ceasefire ultimatum to Hamas as he warns 'all hell is going to break out' if hostages not returned

Donald Trump says the Gaza ceasefire should be cancelled if all remaining Israeli hostages are not returned by noon on Saturday – as he warned Hamas that “all hell is going to break out”.

The US president’s intervention came hours after Hamas has said it will delay the release of more hostages and accused Israel of violating their ceasefire deal.

While signing a series of new executive orders, Mr Trump said he feared many Israeli hostages scheduled for release are already dead.

Referring to his Saturday deadline for the release of hostages, Mr Trump said: “If they’re not here, all hell is going to break out.”

He acknowledged that a decision to end the ceasefire was up to Israel, adding: “I’m speaking for myself. Israel can override it.”

Hours earlier, Mr Trump said Palestinians would not have the right to return under his plan for US “ownership” of Gaza – contradicting officials in his administration who said they would be relocated temporarily.

Trump latest: ‘Palestinians will have no right to Gaza return’

More on Gaza

Widespread destruction seen in Gaza City. Pic: AP
Image:
Widespread destruction seen in Gaza City. Pic: AP

Hamas halts release of hostages

Earlier on Monday, Hamas claimed ceasefire violations had included “delaying the return of the displaced to the northern Gaza Strip, and targeting them with shelling and gunfire”.

Spokesman Abu Obeida said Hamas remained committed if Israel kept to the terms, but that the 15 February handover was postponed “until the occupation commits to and compensates for the past weeks”.

Egyptian security sources told Reuters that mediators now fear the deal will break down.

They said Hamas believes Israel isn’t serious about the ceasefire – which began on 19 January.

The last hostage release took place at the weekend and saw three Israeli men set free. Five Thai citizens released last month were also finally reunited with their families in Bangkok.

They were among about 250 people taken during the 7 October 2023 attack, when 1,200 people were murdered.

Please use Chrome browser for a more accessible video player

Tears as Thai hostages return home

Five swaps have taken place so far, with 21 hostages and more than 730 Palestinian prisoners released.

Saturday’s exchange was due to involve three more Israelis and hundreds of Palestinians.

Defence minister Israel Katz said any delay in releasing hostages would be “a complete violation” and he had instructed troops to be on highest alert.

The Hostages and Missing Family Forum called on mediating countries to restore the deal, saying “time is of the essence” and citing “the shocking conditions of the hostages released last Saturday”.

Read more:
Trump plan so outrageous it might be part of something bigger
Israeli police confiscate books in raid on Palestinian bookshops

As part of the ceasefire deal, Israeli forces pulled back from a key passage through Gaza on Sunday.

The four-mile-long Netzarim corridor separates northern Gaza from the south, and hundreds of thousands of displaced Palestinians have now crossed back over.

However, Israel pushed back the withdrawal by a few days in protest at the chaotic release of hostages Arbel Yehud and Gadi Moses.

This may be what Hamas is referencing what it talks of “delaying the return of the displaced”.

Please use Chrome browser for a more accessible video player

Palestinians return to destroyed Netzarim

There have also been examples of Israeli troops shooting at or near Palestinians approaching Israeli forces after being warned to stay back.

So far, little progress has been made on an extension to the first six-week phase of the ceasefire.

A delegation from Israel has arrived in Qatar for further talks amid concern the deal might collapse before all remaining hostages are freed.

Israel has previously said it will not agree to a complete withdrawal from Gaza until Hamas’s military and political capabilities are eliminated.

Hamas has countered that it will not hand over the final hostages until Israel removes all its troops from Gaza.

Continue Reading

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