Latest news with #JLens
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.
Business Insider
28-04-2025
- Business
- Business Insider
Anti-hate groups are pressing Meta shareholders to demand transparency on hate speech
Shareholder activists say Meta isn't doing enough to combat hate speech. The Anti-Defamation League (ADL) and Jewish investor network JLens are calling on Meta investors to back a new proposal demanding greater transparency into how the company handles antisemitism, anti-LGBTQ+, and anti-disability hate speech. The campaign comes amid rising concern over Meta's rollback of moderation policies and signals that investor scrutiny of the company's approach to safety has intensified. The shareholder proposal, known as Proposal 8, calls on Meta to publish a public report detailing how it identifies, moderates, and addresses hate speech across its platforms. Shareholders will vote on the measure at Meta's annual meeting on May 28. The report would include data tracking the prevalence of hate speech on Meta's platforms, broken down by the communities targeted, and an analysis of whether such content has increased or decreased under updated policy guidelines. It would also disclose any new policies or product interventions Meta has introduced or is developing to address hate targeting marginalized groups. Still, Meta CEO Mark Zuckerberg controls a majority of the company's voting shares through a dual-class stock structure, effectively giving him the power to decide the outcome of any shareholder vote. Even if outside investors broadly support the proposal, it is almost certain to fail without Zuckerberg's backing. Meta declined to comment. Meta's board has urged shareholders to vote against the proposal, saying the company already has comprehensive content moderation systems and transparency reports and that an additional report would not provide meaningful new information. ADL and JLens argue that forcing the issue into public view and onto the ballot is an important step toward holding Meta accountable. "This is not a one-time effort, but part of a broader push to ensure Meta takes meaningful responsibility for the harmful content that appears on its platforms," Ari Hoffnung, managing director of JLens, told Business Insider. "Transparency is the necessary first step. Investors and the public need to understand what Meta is currently doing to combat hate on its platforms." Both ADL and JLens say Meta's current disclosures fall short and that independent, community-specific metrics are essential to understanding the risks. In addition to concerns about user safety, JLens also framed hate speech as a financial risk for Meta's shareholders. Hoffnung said harmful content on Meta could expose the company to legal, regulatory, and reputational risks and threaten relationships with advertisers. "Meta is the platform where we've consistently identified as having one of the highest volumes of antisemitic and other hateful content, making it a priority for investor engagement," Jonathan Greenblatt, CEO of ADL, told BI. "Meta also is a public company, and so as shareholders, we have a formal mechanism to push for transparency and accountability through resolutions like Proposal 8, which we believe is the most constructive way to drive lasting change from within the company." The ADL, founded in 1913, is one of the most prominent civil rights organizations in the US focused on combating antisemitism and hate. In 2022, it acquired JLens, a Jewish values-based investor network, giving it a formal foothold in shareholder advocacy. JLens manages investments in major public companies, including Meta, through funds aligned with Jewish values and has stakes in most large public companies, including Apple, Microsoft, Nvidia, and Meta. While the ADL does not directly own Meta stock, its acquisition of JLens enables it to influence corporate governance through shareholder proposals. "We've previously attempted to engage the company directly without success," Hoffnung said. "This year, we felt it was time to escalate our concerns through a shareholder proposal." Shareholder proposals are a common tool during "proxy season," the period in spring when public companies hold annual meetings and shareholders vote on issues ranging from executive compensation to corporate social responsibility. The pressure on Meta comes as the company's own Oversight Board, an independent group funded by Meta, recently raised alarms about the company's approach to hate speech enforcement. In a statement last week, the board criticized Meta's recent rollback of its moderation policies and warned that the changes could undermine user safety and brand trust. Greenblatt said the ADL believes strongly in free expression but rejects the idea that it should come at the expense of user safety. "We strongly believe in the importance of free expression, but it cannot come at the expense of safety," he said. "Antisemitic content and hate speech can lead to real-world harm, threats, and violence — as we've often seen — and it then crosses the line from protected expression into dangerous conduct." Greenblatt pointed to Reddit's transparency report, which tracked incidents of Holocaust denial and other hate targeting specific groups, as a model for the kind of reporting they hope Meta will adopt if Proposal 8 is successful. Proposal 8 is one of several measures investors will consider at Meta's annual meeting. Other shareholder proposals to be voted on include calls for greater transparency around child safety risks, oversight of Meta's use of artificial intelligence, and enhanced reporting on how the company's data collection practices affect user privacy. JLens has been active beyond Meta this year. It has filed shareholder letters at Intel, General Dynamics, and Lockheed Martin, urging rejection of proposals it viewed as anti-Israel. During the 2024 proxy season, JLens and the ADL campaigned at dozens of companies to push for stronger action against antisemitism and other forms of hate.
Bloomberg
27-02-2025
- Business
- Bloomberg
Anti-Defamation League Debuts What It Says Is First Jewish ETF
Two prominent Jewish groups are starting what they say is the first-ever exchange-traded fund that will tailor investments in S&P 500 Index companies depending on whether they're friendly to Jewish causes. The Anti-Defamation League, an advocacy group that seeks to combat antisemitism, and Jewish investor group JLens, are debuting the JLens 500 Jewish Advocacy US exchange-traded fund with commitments of about $100 million, according to a statement Thursday. Its ticker will be 'TOV,' which means 'good' in Hebrew.
