Where is the balance between publicly traded companies “maximizing shareholder value” and taking a stand on societal issues? Cisco has been sued for selling technology and services to the Chinese government that was used to identify and imprison dissidents. Target and Anheuser-Busch both suffered massive customer backlash for decisions many customers saw as promoting a political agenda. This video examines a couple of the lawsuits and asks uncomfortable questions about balancing corporate objectives.
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– Written by Dr. Steve Turley but applicable to Business Reform as well.
Links to sources used in this video…
https://nypost.com/2023/05/28/target-loses-10b-following-boycott-calls-over-lgbtq-friendly-clothing/
https://www.nbcnews.com/nbc-out/out-news/target-sued-investor-backlash-lgbtq-merchandise-rcna98963
https://www.reuters.com/legal/target-sued-by-investor-over-backlash-lgbtq-merchandise-2023-08-09/
https://legalnewsline.com/stories/666348828-court-denies-target-s-motion-in-shareholder-lawsuit-over-pride-campaign
https://dockets.justia.com/docket/florida/flmdce/2:2025cv00085/437349
https://dockets.justia.com/docket/florida/flmdce/2:2025cv00135/438188
https://rosenlegal.com/wp-content/uploads/2025/02/Target-Complaint-Upload.pdf
https://www.myfloridalegal.com/sites/default/files/2025-02/1-complaint.pdf
https://www.forbes.com/sites/pamdanziger/2025/02/04/target-hit-with-shareholder-lawsuit-claiming-investors-were-defrauded-about-dei-risks/
https://www.forbes.com/sites/conormurray/2025/02/20/florida-sues-target-over-pride-merchandise-as-more-states-take-legal-action-against-dei/
https://nypost.com/2023/08/16/target-suffers-sales-drop-after-pride-month-backlash/
https://www.sec.gov/about/exchange-act-rules
https://www.myfloridalegal.com/newsrelease/florida-attorney-general-james-uthmeier-and-america-first-legal-file-class-action
https://www.forbes.com/councils/forbescommunicationscouncil/2021/07/19/the-new-world-of-corporate-activism-how-to-take-a-stand/
https://www.business-humanrights.org/en/latest-news/usa-court-of-appeals-affirms-cisco-can-face-liability-for-aiding-human-rights-abuses-with-surveillance-technology/
https://www.business-humanrights.org/en/latest-news/usa-court-of-appeals-affirms-cisco-can-face-liability-for-aiding-human-rights-abuses-with-surveillance-technology/
https://www.business-humanrights.org/en/latest-news/usa-cisco-petitions-supreme-court-to-review-ruling-on-surveillance-case/
https://tlblog.org/ninth-circuit-allows-human-rights-claims-against-cisco-to-proceed/
