BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Bezeq The Israel Telecommunication Corporation Limited (“Bezeq” or the “Company”) (OTC: BZQIY) investors concerning the Company and its officers’ potential violation of federal securities laws.
On June 20, 2017, the Israel Securities Authority ("ISA") raided and inspected the Company's offices on suspicion of securities law violations by Bezeq's chairman and majority shareholder, Shaul Elovitch. The ISA noted that it is investigating possible misconduct "with regards to transactions related to [Shaul Elovitch]." And, an Israeli business publication reported that the ISA is investigating the merger of Bezeq's television unit with its parent company, as well as payments the unit made to Eurocom, a Elovitch controlled company, under pressure from Elovitch.
On this news, Bezeq's American Depositary Receipt price fell $0.37, or 4.12%, to close at $8.61 on June 20, 2017.
If you purchased Bezeq securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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