“Proceeds that Would Never be Paid as Part of an Ordinary Transaction”
A reply filed by our firm on behalf of the derivative plaintiff, in response to the statements of defense by Bezeq, Shaul Elovitch, and the directors at Bezeq, claimed that the transaction for the purchase of Yes shares is invalid, as part of which the Company paid the Controlling Shareholder an excessive, farfetched sum: “This is a corrupt deal that has some seriously criminal aspects.” The response was filed amid the criminal investigation, handled by the Israeli Securities Authority regarding that same transaction.
The derivative claim was filed to the Court two years ago after Gil Amid, a Bezeq shareholder, filed a petition for approval of a derivative claim against Bezeq and its directors, by counsel Adv. Ronen Adini, in March 2015. The claim stated that the proceeds paid by Bezeq to Eurocom were excessive, inequitable, and financially unreasonable for Bezeq and that Bezeq, the Controlling Shareholder Shaul Elovitch, and directors have all violated their duty of trust and care when they approved the transaction.
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
