ICL Shareholder Filed A Class Action for NIS 426 Million by Counsel Adv. Ronen Adini, Claiming that Negative Information in Connection with the Company’s Harmonization Project was Deliberately and Continuously Kept Quiet
25.12.2018
Our firm represented an ICL shareholder who claims, in a class action filed by Adv. Ronen Adini, that the Company failed to report, as required by law, negative developments throughout the Harmonization project of the entire company's computing system around the world, a project estimated at hundreds of Millions of dollars. The plaintiff argued that ICL methodically, continuously and deliberately concealed negative information and kept it from the public investors. The claimant further stated that the Project’s failure caused tremendous financial damages to the Company, and even admitted that she was forced to write off over USD200 million dollars due to the Project’s failure.
In light of this, the claim was filed, thereby the Company and its directors are required to compensate the investor public with Company shares for damages incurred thereto following the Company’s concealment.
More info
Article by Adv. Ronen Adini, published in The Marker on Derivative claims
03.05.2021
Adv. Ronen Adini was honored to write the Israeli chapter (Class Actions in Israel 2021) in The Class Actions Law Review
17.04.2021
Adv. Ronen Adini took part in a “Round Table” on “Derivative Claims and Directors’ Insurance”, at the Fischer Center in Tel-Aviv University Faculty of Law with the participation of Supreme Court Judge, the Honorable Prof. Ofer Groskopf, Prof. Assaf Hamdani, Prof. Sharon Haness, Prof. Ehud Kamar, Dr. Kobi Kastiel, Adv. sigal schlimoff Shlimoff and Adv. Hadar Brin.
17.04.2021
