Rep. Torres asks SEC to review Unilever filings over Ben & Jerry’s Israel boycott

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A Bronx congressman has asked the Securities and Exchange Commission to amend its regulatory filing to Ben & Jerry’s parent company to address potential new problems because of the wake ice cream maker’s decision to sell its products in parts of Israel. to reflect the risks.

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Participating in the boycott and sanctions movement against Israel could potentially result in harsh financial consequences in more than 30 states — including New York, which moved from Unilever to divest more than $100 million in pension funds. It is done.

“Unilever is a widely held company with a current market capitalization of $135 billion, which is multiplied by United States institutions, pension funds and holding its shares on behalf of its beneficiaries,” said the letter to SEC Chairman Gary. endangers the endowment.” Gensler on Friday.

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“We believe that these actions require the SEC to request that Unilever’s regulatory filings be amended to disclose material risk factors.”

The letter was led by Representative Richie Torres—a progressive Democrat from The Bronx—but he was joined by a bipartisan group of allies, including Reps. Josh Gottheimer (D-New Jersey), Andrew Garbarino (D-Long Island) and Brian Fitzpatrick (R-Pennsylvania).

Participating in the boycott and sanctions movement against Israel could result in potentially harsh financial consequences in more than 30 states,
Emanuel Dunand / AFP via Getty Images
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In July Ben & Jerry’s revealed that it would be shutting down sales in certain regions of Israel for making a political statement about the ongoing Israeli-Palestinian conflict.

“We believe that the sale of Ben & Jerry’s ice cream in the Occupied Palestinian Territory (OPT) is inconsistent with our values,” the company said in a statement. “We also listen to and recognize the concerns our fans and trusted partners share with us.”

Although Ben & Jerry’s is owned by Unilever, the ice cream maker maintains an independent board that can make management decisions related to its “social mission”. Unilever said.

    Protesters demonstrate against Ben & Jerry's ice cream at the New York Public Library on August 12, 2021
Protesters demonstrate against Ben & Jerry’s ice cream at the New York Public Library on August 12.
Michael M. Santiago/Getty Images

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