Connect with us

Hi, what are you looking for?

Jewish Business News

Court

Unilever Sued by Shareholder over Ben & Jerry’s Israel Boycott

According to the complaint, seven states including New York, Florida, and Texas later unloaded their pension fund assets in Unilever.

Ben and Jerry’s Ice cream/source Uniliver

A Michigan State Pension fund that has shares in Unilever has launched a class-action lawsuit against the food giant, news agencies report.

The prosecutors claim that Unilever’s management of a subsidiary, Ben & Jerry’s declaring an Israel settlement boycott and not to sell its goods in “Israeli-occupied” Palestinian territories Judea and Samaria and east Jerusalem was wrong.

In July 2021, Ben & Jerry’s stated that it will cease selling its goods in the West Bank and portions of East Jerusalem, as well as end its three-decade partnership with an Israeli ice cream company that opposed the decision.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.

the Israeli ice cream company, American Quality Products Ltd, sued Ben & Jerry’s in March 2022 for refusing to renew its license. After the parties agreed to arbitration, a New Jersey court placed the matter on hold last week.

According to the proposed class action in federal court in Manhattan, Unilever wrongfully concealed the decision before it was disclosed, acknowledging that many U.S. states may divest from firms that support anti-Israel boycotts, but standing by it once the news became public.

According to the complaint, seven states including New York, Florida, and Texas later unloaded their pension fund assets in Unilever.

Unilever American depositary receipts (“ADRs”) declined roughly 8% in six days as those states examined their agreements with the company and some Jewish organizations accused Ben & Jerry’s of anti-Semitism.

“As a result of defendants’ wrongful acts and omissions, and the declines in the market value of Unilever ADRs, plaintiff and other class members have suffered significant losses and damages,” the lawsuit said.

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.