PHILADELPHIA CREAM, June 30, 2022 /PRNewswire/ — Shepherd Montague is investigating allegations of securities fraud on behalf of investors who purchased Unilever PLC (“Unilever” or the “Company”) (NYSE: UL) securities between September 2, 2020 and July 21, 2021 (the “Class Period”).
If you purchased the Unilever securities during the Class Period, would like to discuss At Berger Montague investigation, or if you have any questions regarding your rights or interests, please contact the lawyers Andre Abramowitz at [email protected] or (215) 875-3015, or
Michael Dell ‘Angelo to [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/unilever-plc-/
Whistleblowers: Anyone with non-public information about Unilever is encouraged to help confidentially At Berger Montague survey or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
A recently filed lawsuit alleges that throughout the class action period, the defendants made false and misleading statements and failed to disclose this in July 2020, Ben & Jerry’s board of directors passed a resolution to end the sale of its ice cream in the “Occupied Palestinian Territory”, as well as the risks associated with the board’s decision. Additionally, Unilever’s description of its legal risks failed to discuss the Ben & Jerry’s boycott decision, which risked taking adverse government action for violating laws, executive orders, or resolutions aimed at discouraging boycotts, divestments and the sanctions of Israel adopted by 35 US states (“anti-BDS legislation”).
On July 19, 2021Unilever and its handpicked CEO Ben & Jerry’s, Matthew McCarthyfinally “operationalized” Ben & Jerry’s board resolution to boycott Israel. Ben & Jerry’s announced on its website and via its Twitter account that upon the expiration of the current license agreement under which its products were distributed in Israel for decades, Ben & Jerry’s would end the sale of its ice cream in the “Occupied Palestinian Territory”, but Ben & Jerry’s would allegedly continue to sell its products in Israel. At this news, the price of Unilever’s ADRs fell.
So, July 22, 2021CNBC reported that the states of Texas and Florida were examining Ben & Jerry’s actions under state anti-BDS laws. Being added to the list also meant that Unilever would not be able to enter into or renew contracts with the state or any municipality in Florida. At this news, the price of Unilever’s ADRs fell by more than 5%, which further hurt investors.
Ultimately, the states of New York, New Jersey, Florida, Texas, Illinois, Coloradoand Arizona announced decisions to divest their pension fund investments in Unilever due to violations of their anti-BDS legislation.
Shepherd Montaguewith offices at philadelphia cream, Minneapolis, washington d.c.and San Diegohas been a pioneer in securities class actions since its founding in 1970. Shepherd Montague has represented individual and institutional investors for over five decades and acts as lead counsel before courts across United States.
Andre Abramowitzsenior counsel
Michael Dell ‘Angelo, executive shareholder
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