The DEI legal reckoning has arrived

Target shares fell 22% during a single day of trading in November. The retail giant had reported a meager 1% increase in its third quarter, while net income declined 12% to $854 million. The selloff wiped out $16 billion from Target’s market cap.

In the company’s earnings call, CEO Brian Cornell blamed the poor results on weak consumer spending — even though companies such as Walmart posted massive sales growth. Some shareholders appear not to have bought this explanation.