Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Unilever PLC (NYSE: UL), if they purchased the Company’s American Depositary Receipts (“ADRs”) between September 2, 2020 and July 21, 2021, inclusive .
Unilever and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 19, 2021, the Company’s wholly owned subsidiary, Ben & Jerry’s, announced a resolution to end sales of its ice cream in “Occupied Palestinian Territory” upon the expiration of the current licensing agreement by which its products had been distributed in Israel for decades. Then, on July 22, 2021, media sources reported that the states of Texas and Florida were investigating Ben & Jerry’s actions for possible violations of the states’ Anti-BDS (boycotts, divestment, and sanctions of Israel) legislation.
On this news, ADRs of Unilever fell $3.19 per share, or approximately 5.4%.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until August 15, 2022 to request that the court appoint them lead plaintiff.