A Class Action Filed by Our Firm Against Bezeq for NIS 2 Billion was Approved

The Tel Aviv District Court (The Economic Division) approved a class action filed by Ronen Adini &. Co. on behalf of a Bezeq shareholder due to the errors in Bezeq's reports to the investor public, in connection with the "wholesale market" reform and the connectivity fees. The plaintiff argued that Bezeq had deliberately concealed information which, in some cases, was material negative information it had been aware of regarding the reforms announced by the Ministry of Communications, which were intended to open the Israeli media market for competition. According to the plaintiff, Bezeq strongly objected to these reforms, claiming that they would cause heavy financial damages. Nevertheless, the plaintiff argued that Bezeq kept this negative information from the investor public. The claim is estimated at approximately NIS 1-2 billion.