LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the August 28, 2017 deadline in the class action lawsuit filed on of investors who purchased B Communications Ltd (“B Communications” or the “Company”) (NASDAQ: BCOM) securities between November 7, 2013 through June 19, 2017, inclusive (the “Class Period”). B Communications investors have until August 28, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the B Communications case page on our website at https://www.glancylaw.com/case/b-communications-ltd.
On June 20, 2017, The Times of Israel reported that the Israel Securities Authority (“ISA”) had raided the offices of Bezeq and detained Elovitch. The ISA advised Bezeq that it was investigating “suspicions of violations of the securities law and the penal code relating to transactions connected to” Elovitch. The Israeli publication Globes reported that the ISA is investigating the Bezeq-Yes Merger, as well as payments the unit made to Eurocom under pressure from Elovitch. Following this news, B Communications’ share price fell $1.00, or 4.65%, to close at $20.50 on June 20, 2017, damaging investors.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that : (1) Shaul Elovitch, controlling shareholder of Bezeq and B Communications, had engaged in illegal conduct in connection with the Bezeq-YES Merger; (2) discovery of the foregoing conduct would subject B Communications and/or Bezeq to heightened regulatory scrutiny and potential criminal sanctions; and (3) as a result of the foregoing, B Communications’ public statements were materially false and misleading at all relevant times.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares of B Communications during the Class Period you may move the Court no later than August 28, 2017 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.