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Bud Light parent may face lawsuit for allegedly tanking shareholder value with transgender partnership

A gavel rests on a judge bench. (The Columbus Dispatch/TNS)
May 31, 2023

A law firm founded by a once top advisor to former President Donald Trump appears to be preparing to sue Anheuser-Busch for allegedly failing its shareholders with LGBTQ activist marketing that sparked a massive boycott and allegedly caused their shareholder value to plummet.

On Tuesday, America First Legal, founded by former Trump adviser Stephen Miller, called on shareholders of Anheuser-Busch, Target, Kohls, and other companies promoting LGBTQ products at shareholders’ expense to contact them.

The move appears to be part of plans to sue the companies, Newsweek reported.

America First Legal tweeted:

ATTENTION: Are you a shareholder of @Target @Kohls @abinbev, or other companies that are promoting transgender, LGBTQ and PRIDE products and diminishing shareholder value? We want to hear from you: [email protected]

America First Legal would have to prove the companies adopted LGBTQ marketing plans knowing they would negatively impact share price. Neama Rahmani, a former federal prosecutor, told Newsweek that the lawsuit is “a stretch.”

“Whether it’s a direct action by a shareholder or a derivative suit on behalf of the corporation, the plaintiffs will need to prove negligence, breach of a fiduciary duty, or some other basis for liability,” said Rahmani. “It’s a stretch to argue that the officers and directors violated the standard of care by moving forward with inclusive LGBTQ marketing strategies. I can see a judge dismissing this type of lawsuit at the pleading phase if a lawyer tries to move forward.”

The potential lawsuit comes as Anheuser-Busch sales continue to suffer under an ongoing boycott triggered by Bug Light’s partnership with transgender influencer Dylan Mulvaney.

In its latest effort to win back customers angered by the partnership, Anheuser-Busch is preparing to roll out new beer bottles featuring camouflage prints. The alcoholic beverage giant recently met with distributors in St. Louis at its U.S. headquarters to determine a new strategy amid the backlash, sources familiar with the situation said.

One of the new plans includes temporarily redesigning Budweiser and Bud Light aluminum bottles, a distributor who requested anonymity said.

In addition to camouflage print, the bottles will feature images from the “Folds of Honor,” an organization that provides “life-changing scholarships to the spouses and children of America’s fallen or disabled military.”