Trending...
- Axencis Launches Performance Partnership for Brand Protection
- L2 Aviation Receives FAA STC and PMA for Klatt Works SAVED™ Smoke Vision System
- Burkentine Builders Break Ground for Valley West Community
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Unilever PLC ("Unilever" or the "Company") (NYSE: UL) American Depositary Receipts ("ADRs") between September 2, 2020 and July 21, 2021, inclusive (the "Class Period"). Unilever investors have until August 15, 2022 to file a lead plaintiff motion.
Investors suffering losses on their Unilever investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On July 19, 2021, Unilever's subsidiary ice cream company, Ben & Jerry's announced that, upon the expiration of the current licensing agreement by which its products had been distributed in Israel for decades, it would end sales of its ice cream in "Occupied Palestinian Territory" but would purportedly continue to sell its products in Israel. On this news, the Company's ADR price fell $0.58 per ADR, or 1%.
More on The PennZone
Then, on July 22, 2021, CNBC reported that Texas and Florida were examining Ben & Jerry's actions in connection with their legislation against the boycott, divestment, and sanctions ("BDS") movement, a controversial movement whose objective is to coerce Israel into making concessions to the Palestinians. In a letter from the state of Florida's CFO Jimmy Patronis, who controls Florida's public pension funds, Florida would "be prohibited from investing in Ben & Jerry's or its parent company, Unilever." That also meant that Unilever could not enter or renew contracts with the state or any municipality in Florida.
On this news, Unilever's ADR price fell $3.08, or 5.4%, to close at $53.45 per ADR on July 22, 2021, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that, in July 2020, Ben & Jerry's board passed a resolution to end sales of its ice cream in "Occupied Palestinian Territory"; (2) the risks attendant to the Ben & Jerry's board's decision; (3) the foregoing risked adverse governmental actions for violations of laws, executive orders, or resolutions aimed at discouraging boycotts, divestment, and sanctions of Israel adopted by 35 U.S. states; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
More on The PennZone
If you purchased Unilever ADRs, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Investors suffering losses on their Unilever investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On July 19, 2021, Unilever's subsidiary ice cream company, Ben & Jerry's announced that, upon the expiration of the current licensing agreement by which its products had been distributed in Israel for decades, it would end sales of its ice cream in "Occupied Palestinian Territory" but would purportedly continue to sell its products in Israel. On this news, the Company's ADR price fell $0.58 per ADR, or 1%.
More on The PennZone
- Strategic Talent Associates Launches THE ALIGNED RESET™
- Calvetta Phair Founder & CEO Earns AOPA Foundation Flight Training Scholarship, Inspiring a New Generation of STEM Dreamers in Underserved Communities
- MTV EMA Nominee and WOA Founder Oliver Sean Conferred Doctor of Musical Arts (DMA) Degree
- Ryan Murphy Joins Personal Injury Law Firm Feldman Shepherd
- Karen D. Gentry Announces New Book Focused on Relationships and Personal Growth
Then, on July 22, 2021, CNBC reported that Texas and Florida were examining Ben & Jerry's actions in connection with their legislation against the boycott, divestment, and sanctions ("BDS") movement, a controversial movement whose objective is to coerce Israel into making concessions to the Palestinians. In a letter from the state of Florida's CFO Jimmy Patronis, who controls Florida's public pension funds, Florida would "be prohibited from investing in Ben & Jerry's or its parent company, Unilever." That also meant that Unilever could not enter or renew contracts with the state or any municipality in Florida.
On this news, Unilever's ADR price fell $3.08, or 5.4%, to close at $53.45 per ADR on July 22, 2021, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that, in July 2020, Ben & Jerry's board passed a resolution to end sales of its ice cream in "Occupied Palestinian Territory"; (2) the risks attendant to the Ben & Jerry's board's decision; (3) the foregoing risked adverse governmental actions for violations of laws, executive orders, or resolutions aimed at discouraging boycotts, divestment, and sanctions of Israel adopted by 35 U.S. states; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
More on The PennZone
- AWARENESS TO WELLNESS: Imhotep Institute Charter High School
- Colonial Nissan Honors Serge Panchenko for 25 Years of Service
- New plusOne Research Finds the Orgasm Gap Is a 30-Point Chasm — and Confirms It Isn't Biology
- CCHR Report Links 145 Violent Incidents to Psychiatric Drug Exposure, Urges National Oversight and Action
- Best Companies Group Launches Free Best Accounting Firms to Work For Program
If you purchased Unilever ADRs, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Filed Under: Business
0 Comments
Latest on The PennZone
- Who Is Dr. Deshawnda Williams?
- Lick Expands Flavored Massage Oil Collection with 10 New Indulgent Cream-Inspired Scents
- Colleen Hanson Recognized for Fourth Consecutive Year by Pennsylvania Business Central
- 2026 Version of 6-in-1 Estate and Trust Administration Software Released by The Lackner Group
- New Research Identifies "Vacation Compatibility Gap" as the Hidden Force Shrinking How Long and With Whom Americans Travel
- Melospeech Inc. Awarded New NYSDOH BEI Contract in New York
- Five-star Review for Berklee School of Music Textbook
- Advanced TeleSensors Appoints AgeTech Innovator Tiffany Wey, MBA as Vice President of Sales & Marketing
- Daniel Kaufman Real Estate Venture LoneStar Kaufman Development Partners Expands
- Burkentine Builders Break Ground for Valley West Community
- Brian D Chase Selected to the 2026 Nation's Top One Percent Personal Injury Lawyers
- Most Americans Choose Their Water Brand Because of Its Natural Source — Yet Fewer Than 3 in 10 Understand What Spring Water Actually Is
- Unlocking Multi-Sector Growth; Graphite Acquisition Powers EV Entry While Streamlined Consumer Snack Business Fuels Growth: (N A S D A Q: SOWG)
- Permian Museum Adds Carbonaceous Chondrite Reference Photos
- L2 Aviation Receives FAA STC and PMA for Klatt Works SAVED™ Smoke Vision System
- Axencis Launches Performance Partnership for Brand Protection
- CCHR Says New OIG Report Raises Concerns about Drugging Elderly with Antipsychotics
- Philadelphia Community Unites for Awareness 2 Wellness Annual Wellness Fair Focused on Healing, Hope
- West Park Arts Fest 2026 Returns to Philadelphia for a Day of Music, Art, and Cultural Celebration
- Project Pretzel Introduces a New System for Running Renovation Projects with Built In Contracts and Real Time Execution