Social Democrats TD Eoin Hayes has been suspended from the parliamentary party with immediate effect.
The party's deputy leader Cian O’Callaghan released a statement regarding TD Eoin Hayes selling shares in Palantir Technologies later than he had originally claimed in which he confirmed Mr Hayes’ suspension.
“At a press conference today, Eoin Hayes stated he had sold shares in Palantir before he entered politics,” the statement read.
“This was not true.
“Eoin was first elected to Dublin City Council in June 2024 and the shares were sold in July 2024.”
Deputy O’Callaghan said the situation is “a serious matter”.
“It is imperative that the media, who hold politicians to account on behalf of the public, can rely on the information they receive from elected representatives,” he said.
“For that reason, Eoin Hayes has been suspended from the Social Democrats parliamentary party with immediate effect."
'He hasn't been transparent.' Journalists grew frustrated today when trying to get an answer on when exactly Social Democrats TD Eoin Hayes sold his shares in a controversial firm with links to the Israeli Defence Forces. pic.twitter.com/di6YiESUEL
— NewstalkFM (@NewstalkFM) December 10, 2024
Between 2015 and 2017, Dublin Bay South TD Eoin Hayes worked as a strategist for US data firm Palantir Technologies which builds “platforms for integrating, managing, and securing data”.
The firm’s clients include the Israeli Defence Forces.
When elected as a councillor in June this year, Deputy Hayes wrote in his declaration of interests that he had received company shares as part of his remuneration package at Palantir.
“I completely divested from all holdings in the company within the last 12 months and no longer hold any interest – financial or otherwise – in the company,” he wrote.
At a press conference outside Leinster House this morning, Deputy Hayes repeatedly refused to tell journalists when he sold his shares, only that he "divested entirely before I entered politics".
“I’m rarely shocked in politics - but that is absolutely horrendous.”
PBP’s @RBoydBarrett on Eoin Hayes’ apology after he revealed he sold shares in Palantir - a company with ties to the IDF - in July, when Hayes stated earlier today he had sold them ‘before entering politics’. pic.twitter.com/MaRfJ2O8UA
— NewstalkFM (@NewstalkFM) December 10, 2024
In a statement issued soon after the tense press conference, Deputy Hayes “unreservedly apologised for providing incorrect information”.
“Throughout the course of the past year, Palantir’s support for the Israeli military has markedly increased," he said.
"In January, the company signed a new strategic partnership with the Israeli Defence Ministry. I should have sold my shares then and I deeply regret that I did not.
“I had 7,000 shares in the company, all of which dated from my employment nearly a decade ago, and sold them in July 2024 for a pre-tax figure of €199,000.
“Earlier today, during a press conference, I stated I had sold the shares before I entered politics. This was not true. It was a month after I was first elected."
For months, the Social Democrats have called for an immediate ceasefire in Gaza, the return of the hostages, accountability for alleged Israeli war crimes and “economic and diplomatic sanctions on Israel.”
Additional reporting by James Wilson.
Main image: Eoin Hayes (L) and Gary Gannon (R) at a Soc Dems press conference. 10/12/2024 Photo: Leon Farrell/© RollingNews.ie
