Ohio Attorney General Dave Yost is seeking lead-plaintiff status in a class-action lawsuit accusing retail chain Target of misleading investors.

The lawsuit was filed in the U.S. District Court for the Middle District of Florida.

According to a press release, Yost filed a motion on Tuesday to lead the case on behalf of the State Teachers Retirement System of Ohio. The suit alleges that Target artificially inflated its stock value by downplaying the backlash to diversity, equity and inclusion (DEI) initiatives.

Yost is quoted in the release saying Target knew of the risk of backlash for implementing such initiatives, but kept this information hidden from investors.

"This case isn't a debate over differing ideologies. It's about a company's duty to give investors and honest assessment of risk and reward," Yost said.

Target began promoting DEI initiatives back in March of 2022. Notably, a Pride Month campaign in 2023 sparked widespread boycotts, which caused Target's sales to fall for the first time in six years with the company's market value tanking by an estimated $25 billion.

In January of 2025, Target announced it was rolling back on DEI initiatives.

21 News has reached out to Target for comment on this matter and we are waiting to hear back.