Securities Fraud Investigation: Unilever PLC
UNILEVER PLC Company News: Berger Montague Investigates Securities Fraud Allegations Against Unilever PLC (NYSE: UL); Lead Plaintiff Deadline is August 15, 2022
PHILADELPHIA, June 30, 2022 – Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities Unilever PLC (“Unilever” or the “Company”) (NYSE: UL) between September 2, 2020 and July 21, 2021 (the “Class Period”).
If you purchased the securities of Unilever during the Class Period, would like to discuss Berger Montague’s investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875-3015, or Michael Dell’Angelo at [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/unilever-plc-/
A recently filed lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that in July 2020, Ben & Jerry’s board passed a resolution to end sales of its ice cream in “Occupied Palestinian Territory,” as well as the risks attendant to the board’s decision. Additionally, Unilever’s description of its legal risks omitted discussion of Ben & Jerry’s boycott decision, which 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 (“Anti-BDS Legislation”).
On July 19, 2021, Unilever and its hand-picked Ben & Jerry’s CEO, Matthew McCarthy, finally “operationalized” the Ben & Jerry’s board’s resolution to boycott Israel. Ben & Jerry’s announced on its website and through its Twitter account that, upon the expiration of the current licensing agreement by which its products had been distributed in Israel for decades, Ben & Jerry’s would end sales of its ice cream in “Occupied Palestinian Territory” but Ben & Jerry’s would purportedly continue to sell its products in Israel. On this news, the price of Unilever ADRs fell.
Then, July 22, 2021, CNBC reported that the states of Texas and Florida were examining Ben & Jerry’s actions in connection with the states’ Anti-BDS Legislation. Being added to the list also meant that Unilever would not be able to enter or renew contracts with the state or any municipality in Florida. On this news, the price of Unilever ADRs fell more than 5%, further damaging investors.
Ultimately, the states of New York, New Jersey, Florida, Texas, Illinois, Colorado, and Arizona announced decisions to divest their pension fund investments in Unilever due to violations of their Anti-BDS Legislation.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.