Latest news with #AriHoffnung
Time of India
14-05-2025
- Business
- Time of India
Google's shareholders get an 'Israel request': We believe this proposal is ...
Jewish advocacy groups are urging Google-parent Alphabet shareholders to reject a proposal set for a vote at the company's annual meeting, which demands an investigation into whether Google's cloud services, particularly those involved in Israel's Project Nimbus , contribute to human rights abuses in conflict zones. According to a report in New York Post, the Google 's annual shareholders meeting is scheduled for June 6, 2025, when the proposal will be put to vote. The proposal targets Alphabet's contracts with the Israeli government, including Project Nimbus, a $1.2 billion cloud initiative with Amazon that serves both civilian agencies and the Israel Defense Forces (IDF). Jonathan Greenblatt, CEO of the Anti-Defamation League (ADL), told the Post, 'Proposal 9 offers the pretense of concern for human rights when in fact it is a thinly disguised ploy to weaken Israel's national security — and to undermine its right to defend itself — by pressuring Alphabet to withhold vital technology that supports the country's self-defense capabilities.' He added 'We believe this proposal is closely aligned with the objectives of the Boycott, Divestment, and Sanctions (BDS) movement, whose goal is to delegitimize the State of Israel.' What Google's board has advised shareholders on the proposal The measure calls for an independent report to assess if Alphabet's services contribute to human rights harms in 'conflict-affected and high-risk areas.' Alphabet's board has advised shareholders to vote against it, per the company's proxy statement. Critics, including JLens, a Jewish investment advisor managing over $2 billion in assets, argue the proposal misrepresents Project Nimbus by framing it as a military project while ignoring its civilian uses in Israeli healthcare, finance, education, and transportation. Ari Hoffnung, JLens' Managing Director, told the Post, 'Alphabet's shareholders should see this proposal for what it is: an attempt to misuse the proxy process to advance a divisive political agenda that has no place in corporate governance.' Protests at Google over project Nimbus JLens has filed a formal opposition with the Securities and Exchange Commission. The Post notes that Alphabet faced backlash after firing 28 employees in April 2024 over protests against Project Nimbus and criticism for acquiring Israeli cybersecurity firm Wiz, with BDS-aligned groups targeting Google Cloud CEO Thomas Kurian. The vote follows the October 7, 2023, terror attacks in Israel, which killed over 1,200 and saw hundreds taken hostage, heightening concerns about restricting technology critical to Israel's civilian safety and infrastructure. Alphabet did not respond to the Post's request for comment. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Wire
13-05-2025
- Business
- Business Wire
ADL and JLens Urge Shareholders of Alphabet Inc. to Vote AGAINST Anti-Israel Shareholder Proposal
NEW YORK--(BUSINESS WIRE)--JLens, a Registered Investment Advisor, along with ADL (the Anti-Defamation League), today called upon shareholders of Alphabet Inc. (NASDAQ: GOOG)(the 'Company') to vote AGAINST a shareholder proposal designed to harm Israel by pressuring the Company into severing business ties with the country. ADL and JLens noted that Proposal 9 is expected to be submitted to a shareholder vote at the Alphabet annual meeting on June 6, 2025. The proposal cites the fact that Alphabet provides cloud-computing technology to 'Project Nimbus,' a system used by the Israel Defense Forces (IDF) and many civilian applications, as justification for a request that the Company commission an independent third-party report to determine whether its customers' use of certain products and services, 'contributes to human rights harms in conflict-affected and high-risk areas (CAHRA).' The Board of Directors of Alphabet has recommended that their shareholders vote AGAINST the above-noted shareholder proposal. 'Proposal 9 offers the pretense of concern for human rights when in fact it is a thinly disguised ploy to weaken Israel's national security—and to undermine its right to defend itself—by pressuring Alphabet to withhold vital technology that supports the country's self-defense capabilities,' said Jonathan A. Greenblatt, CEO and National Director of ADL. 'We believe this proposal is closely aligned with the objectives of the Boycott, Divestment, and Sanctions (BDS) movement, whose goal is to delegitimize the State of Israel.' ADL and JLens believe that Proposal 9 misrepresents 'Project Nimbus' by portraying it solely as a military initiative, while ignoring its broad civilian applications across Israel's ministries of finance, healthcare, education, and transportation. At the same time, the proposal disregards the urgent and lawful need for modern defense technologies—especially in the wake of the October 7, 2023 terror attacks, which killed over 1,200 people and took hundreds hostage. Alphabet's cloud services play a vital role in both safeguarding Israeli civilians and strengthening essential public infrastructure, making this proposal not only misleading but dangerously out of touch with the realities on the ground. 'Alphabet's shareholders should see this proposal for what it is: an attempt to misuse the proxy process to advance a divisive political agenda that has no place in corporate governance,' said Ari Hoffnung, Managing Director of JLens. 'Proposal 9 not only distorts the purpose of Project Nimbus—it also risks undermining shareholder value by inserting geopolitics into decisions about lawful, commercially sound partnerships.' The shareholder proposal is not the first time Alphabet has come under attack from anti-Israel activists, but rather part of a broader campaign targeting Google for its business ties with Israel. In April 2024, Google terminated 28 employees following a series of protests against its cloud contract with the Israeli government, citing workplace disruptions and policy violations, according to an internal memo. BDS movement organizers also condemned the company's 2025 acquisition of Israeli cybersecurity firm Wiz, claiming it reflects support for the so-called 'Israeli apartheid system.' In one extreme case, protesters targeted the home of Google Cloud CEO Thomas Kurian, hanging banners that labeled him a 'genocide profiteer.' JLens has filed a Notice of Exempt Solicitation with the U.S. Securities and Exchange Commission, describing its opposition to Alphabet shareholder proposal. About ADL ADL is the leading anti-hate organization in the world. Founded in 1913, its timeless mission is 'to stop the defamation of the Jewish people and to secure justice and fair treatment to all.' Today, ADL continues to fight all forms of antisemitism and bias, using innovation and partnerships to drive impact. A global leader in combating antisemitism, countering extremism and battling bigotry wherever and whenever it happens, ADL works to protect democracy and ensure a just and inclusive society for all. More at About JLens Founded in 2012, JLens is a 501(c)(3) nonprofit and Registered Investment Advisor that empowers investors to align their capital with Jewish values and advocates for Jewish communal priorities in the corporate arena. JLens' Jewish Investor Network is composed of over 30 Jewish institutions, representing $11 billion in communal capital. In 2022, JLens established an affiliation with ADL (Anti-Defamation League), the leading anti-hate organization in the world. JLens has an indirect financial interest in Intel, General Dynamics and Lockheed Martin as a data and proxy service provider, and sub advisor to investment vehicles with holdings in those companies. More at PLEASE NOTE: THIS IS NOT A PROXY SOLICITATION AND NO PROXY CARDS WILL BE ACCEPTED. The Anti-Defamation League and JLens are not asking for your proxy card and cannot accept your proxy card. Please DO NOT send us your proxy card.
