Retailer Target was once seen as a paragon of socialresponsibility. The company offers scholarships and steers 5% ofprofits to programs in the communities in which its stores arelocated. As recently as 2008, socially responsible investment firmshailed it as a model business. Then last summer, Target became atarget–of a boycott by activists angry that the company contributed$150,000 to Minnesota Republican gubernatorial candidate Tom Emmer,known for his opposition to gay marriage.

Target could well find itself facing an embarrassing shareholderresolution seeking a proxy vote on political action at its nextannual meeting. If so, it will join as many as 60 major companies,including Wells Fargo, CVS Caremark, 3M and State Street, that arebeing confronted by shareholders over corporate politicalactivities, says Bruce Freed, president of the Washington, D.C.,Center for Political Accountability, which is monitoring andhelping to organize such actions.

“Target has become the poster child of the Citizens Unitedcase,” says Freed, referring to the Supreme Court's landmark 5-4decision last January that gave corporations the right to fundindependent advertising in political races. “It shows the risksthat a company faces when it gets involved in politics.”