Starbucks has plummeted in market value, after news broke that Starbucks is suing the Starbucks Workers Union (SWU), Irish Star reported.
SWU, which has over 360 participating stores and over 9,000 participating employees, was sued by the chain after SWU tweeted, "Solidarity with Palestine."
The New York Post noted that Starbucks quickly responded to the tweet by saying, "We unequivocally condemn acts of terrorism, hate and violence, and disagree with the statements and views expressed by Workers United and its members. Workers United’s words and actions belong to them, and them alone."
The site added that Starbucks saw 8% growth during its fourth quarter, but its stock market value dropped 1.6% on Monday, for the 11th consecutive session. The consecutive drops, which began towards the end of November, erased 9.4% of Starbucks’ market value, for a decline of nearly $12 billion.
According to AZ Central, Starbucks employees, former baristas, and "Palestinian" advocacy groups across the US boycotted the coffee chain as a response to Starbucks' lawsuit against SWU.
Lynne Fox, Workers United President, emphasized in a statement that the tweet was written by a single person and unauthorized by any other SWU members.
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