Unilever wins pensioner shareholder case over Ben and Jerry’s Israel boycott
In December 2022, Ben & Jerry’s independent board reached a settlement with Unilever that ensured the ice cream would continue to be sold across Israel and the West Bank.
A federal judge dismissed a lawsuit against the multinational food company Unilever tied to Ben and Jerry’s 2021 announcement that it would stop selling ice cream in what it called “Occupied Palestinian Territory.”
Unilever is the ice cream maker’s parent company. The lawsuit, which was thrown out on Tuesday, claimed Unilever misled American investors by not immediately sharing the news of the boycott with them.
The boycott, which sparked discussion across the Jewish world, is not in force: In December 2022, following a separate, lengthy legal battle, Ben & Jerry’s independent board reached a settlement with Unilever that ensured the ice cream would continue to be sold across Israel and the West Bank.
The suit that was dismissed Tuesday in a New York City federal courtroom was brought last year by a police and fire pension fund in St. Clair Shores, a suburb of Detroit. The plaintiffs sought damages from the company due to to a drop in Unilever stock price after the boycott announcement in July 2021.
“We believe it is inconsistent with our values for Ben & Jerry’s ice cream to be sold in the Occupied Palestinian Territory,” Ben & Jerry’s had said in a statement announcing the boycott. “We also hear and recognise the concerns shared with us by our fans and trusted partners.”
Following the announcement, multiple state pension funds divested their funds from Unilever or otherwise decreased their business with the company or with Ben & Jerry’s.
The lawsuit sought damages for people whose shares in the company fell after those divestments, and after some Jewish and pro-Israel groups accused Ben & Jerry’s of antisemitism.
The plaintiffs alleged that Unilever should have alerted its shareholders that Ben & Jerry’s was set to make a decision that could cause a drop in the company’s value.
But U.S. District Judge Lorna Schofield ruled that Unilever was not required to disclose the boycott when Ben & Jerry’s decided on it in July 2020, because Unilever retained operational control over whether to institute the boycott, which it did not do.
Thank you for helping to make Jewish News the leading source of news and opinion for the UK Jewish community. Today we're asking for your invaluable help to continue putting our community first in everything we do.
For as little as £5 a month you can help sustain the vital work we do in celebrating and standing up for Jewish life in Britain.
Jewish News holds our community together and keeps us connected. Like a synagogue, it’s where people turn to feel part of something bigger. It also proudly shows the rest of Britain the vibrancy and rich culture of modern Jewish life.
You can make a quick and easy one-off or monthly contribution of £5, £10, £20 or any other sum you’re comfortable with.
100% of your donation will help us continue celebrating our community, in all its dynamic diversity...
Engaging
Being a community platform means so much more than producing a newspaper and website. One of our proudest roles is media partnering with our invaluable charities to amplify the outstanding work they do to help us all.
Celebrating
There’s no shortage of oys in the world but Jewish News takes every opportunity to celebrate the joys too, through projects like Night of Heroes, 40 Under 40 and other compelling countdowns that make the community kvell with pride.
Pioneering
In the first collaboration between media outlets from different faiths, Jewish News worked with British Muslim TV and Church Times to produce a list of young activists leading the way on interfaith understanding.
Campaigning
Royal Mail issued a stamp honouring Holocaust hero Sir Nicholas Winton after a Jewish News campaign attracted more than 100,000 backers. Jewish Newsalso produces special editions of the paper highlighting pressing issues including mental health and Holocaust remembrance.
Easy access
In an age when news is readily accessible, Jewish News provides high-quality content free online and offline, removing any financial barriers to connecting people.
Voice of our community to wider society
The Jewish News team regularly appears on TV, radio and on the pages of the national press to comment on stories about the Jewish community. Easy access to the paper on the streets of London also means Jewish News provides an invaluable window into the community for the country at large.
We hope you agree all this is worth preserving.