Did you lose money on investments in Unilever? If so, visit Unilever PLC shareholder class action lawsuit or contact Peter Aloco at (212) 951-2030 either [email protected] to discuss your rights.

NEW YORK, July 8, 2022 /PRNewswire/ — Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the American Depositary Receipts (“ADRs”) of Unilever PLC (“Unilever” or the “Company”) (NYSE: UL) Among September 2, 2020 Y July 21, 2021, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York and alleges violations of the Securities Exchange Act of 1934.

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Unilever is a British multinational consumer goods company that sells more than 400 products in more than 190 countries, including Ben & Jerry’s ice cream, which it acquired in 2000. In an attempt to preserve Ben & Jerry’s long-standing “Social Mission” , the acquisition of Ben & Jerry’s included allowing for an independent board of directors, which was given primary responsibility for preserving and enhancing the company’s Social Mission objectives (the “B&J Board”).

More than 20 years after the acquisition, Ben & Jerry’s remains a wholly owned subsidiary of Unilever with an independent board that addresses the company’s social mission. Since the acquisition, the B&J Board has continued its social mission by engaging in promotions and advocacy on a number of issues related to the environment, voter turnout, fair trade, and genetically modified organisms. Today, the B&J Board, chaired by Anuradha Mittal (“Mittal”), is made up mainly of social activists who came together long after the Unilever acquisition.

The B&J Board passed a resolution in july 2020 ending sales of Ben & Jerry’s products in areas that the B&J Board considers to be illegally occupied Palestinian territories by Israel. According to Mittal, CEO of Ben & Jerry’s Matthew McCarthy (“McCarthy”) chose not to “operationalize” the resolution immediately, thereby temporarily thwarting the B&J Board’s decision. during the morning of July 19, 2021Unilever and its handpicked CEO, McCarthy, “implemented” the B&J Board’s resolution to boycott Israel. Ben & Jerry’s advertised on its website and through its Twitter noting that, upon expiration of the current license agreement under which its products had been distributed in Israel for decades, Ben & Jerry’s would stop selling its ice cream in the “Occupied Palestinian Territory”, but Ben & Jerry’s would allegedly continue to sell its products in Israel.

The B&J Board’s decision appeared to stem from the Boycott, Divestment and Sanctions (“BDS”) movement. The BDS movement is a pro-Palestinian movement that promotes boycotts, divestment, and economic sanctions against Israel. The aim of the BDS movement is to coerce Israel in making concessions to the Palestinians by using boycotts and the like to exert economic and political pressure. In addition, and of particular importance here, 35 US states have adopted laws, executive orders, or resolutions intended to discourage boycotts, divestments, and sanctions from Israel (“Anti-BDS Legislation”).

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during the morning of July 22, 2021, CNBC reported that the states of Texas Y Florida they were examining Ben & Jerry’s actions in relation to states’ anti-BDS legislation. In addition to the condemnation of the boycott of Ben & Jerry’s for Texas Governor Greg Abbott, CNBC reported that the Texas State Comptroller Glen Hegarwhich controls billions of dollars in assets for Texas’ public pension funds, he had already told his office to take action. Similarly, the state of Florida CFO jimmy patronis (“Patronis”), who controls Florida public pension funds, told CNBC that his office I was already discussing the subject. In a letter purportedly sent to the CEO of Ben & Jerry’s, Patronis wrote: “I believe that Ben & Jerry’s blatant refusal to do business in Israel will result in its placement on the List of Screened Companies Boycotting Israel.” The letter also said that Florida then “it would be barred from investing in Ben & Jerry’s or its parent company, Unilever.” Being added to the list also meant that Unilever could not enter into or renew contracts with the state or any municipality in Florida.

On this news, the price of Unilever’s ADRs fell $3.19 to close in $55.52 by ADR in July 22, 2021.

If you wish to serve as lead plaintiff, you must transfer to Court no later than August 15, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct the litigation. Your ability to participate in any recovery does not require that you act as a lead plaintiff. If you choose not to take any action, you may remain a member of the absent class.

If you purchased the Unilever ADRs and/or would like to discuss your legal rights and options please visit Unilever PLC shareholder class action lawsuit or contact Peter Aloco at (212) 951-2030 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered more than $3.5 billion For your customers. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to display your assets and pursue litigation on your behalf. As a result of its success litigating hundreds of lawsuits and class action lawsuits, the firm has been named to The National Law Journal’s “Plaintiffs Hot List” thirteen times and has been listed in The Legal 500 for ten consecutive years.

LAWYER ADVERTISING. © 2022 Bernstein Liebhard LLC. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Past results do not guarantee or predict a similar result with respect to any future matter.

Contact information:

Peter Aloco
Bernstein Liebhard LLP
(212) 951-2030
[email protected]

SOURCE Bernstein Liebhard LLP

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