Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Unilever American Depository Receipts (“ADRs”) To Contact Him Directly To Discuss Their Options
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Unilever Plc (“Unilever” or the “Company”) (NYSE: UL) and reminds investors of the August 15, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Unilever American Depository Receipts (“ADRs”) between September 2, 2020 and July 21, 2021 and would like to discuss your legal rights, Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
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.
In response to this news, the price of Unilever ADRs closed down $0.58 per ADR that day (approximately 1%).
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. In addition to condemnation of Ben & Jerry’s boycott by Texas Governor Greg Abbott, CNBC reported that Texas State Comptroller Glenn Hegar, who controls billions of dollars in assets for Texas’ public pension funds, had already told his office to take action. Similarly, the state of Florida’s CFO Jimmy Patronis, who controls Florida’s public pension funds, told CNBC that his office was already discussing the issue. In a letter reportedly sent to Ben & Jerry’s CEO, Patronis wrote: “It is my belief that Ben & Jerry’s brazen refusal to do business in Israel will result in your placement on the Scrutinized Companies that Boycott Israel List.” The letter also stated that Florida would then “be prohibited from investing in Ben & Jerry’s or its parent company, Unilever.” 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.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Unilever’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Filed on 06/15/2022
Class period 09/02/2020 - 07/21/2021
Lead Plaintiff Deadline 08/15/2022
45 days remaining
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