Immediate Supplementary Report – Filing of amended class action statement of claim
Immediate Supplementary Report – Filing of Amended Class Action Statement of Claim
Further to the description in section 2.18.1(A) of the chapter titled "Description of the Company's Business" in the Company's periodic report for 2019 and to the Company's immediate report of December 1, 2019, regarding a judgment issued in a motion to rehear the decision approving a petition to certify a class action against the Company as well as past and present Company officers, alleging that the Company's shareholders incurred losses due to the Company's failure to file reports with the Tel Aviv Stock Exchange and due to the concealment of material information from the investing public about the reduction in interconnect fees and about the wholesale market reform, an immediate report is hereby issued, stating that on July 12, 2020 an amended statement of claim was filed pursuant to the said judgment.
The amended statement of claim, among other things, deletes the matter of the reduction in the interconnect fees and narrows the definition of the class of plaintiffs with respect to the wholesale market reform, pursuant to the court's judgment in the rehearing.
Additionally, the total amount of the claim has been amended and is now estimated by the plaintiff at NIS 687 million (instead of NIS 2 billion based on the "out-of-pocket" method, or, alternatively, NIS 1.1 billion based on the "approximate out-of-pocket" method, according to the pre-amendment wording of the statement of claim). It should be noted that no economic opinion has been attached to the amended statement of claim.
Bezeq The Israel Telecommunications Corp. Ltd.
The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.