The Dublin Bay South TD was suspended from the Soc Dems on Tuesday after he gave incorrect information to journalists on the sale of shares he held in a US software which supplies technology to Israel and the IDF to assist in the ongoing war.

In a statement, Mr Hayes confirmed that the shares in Palantir were sold in July 2024 for a pre-tax figure of €199,000. He also stated on his Dublin City Council ethics declaration form on June 26 that he had "completely divested from all holdings in the company within the last 12 months".

It emerged last week that Mr Hayes, the party’s newly elected TD in Dublin Bay South, worked for US firm Palantir for two years nearly eight years ago. He only sold his shares in the company this year.

Suspended Social Democrats TD Eoin Hayes lost out on almost €300,000 by ditching his shares in controversial software company Palantir Technologies soon after his election as a councillor, because the stock has skyrocketed since he won the seat.

The Dublin Bay South TD admitted on Tuesday that he gave incorrect information to the media when asked about when he sold shares he held in US-based software firm Palantir